Tocqueville Asset Management L.P. Sells 4,272 Shares of Emerson Electric Co. (EMR)
Tocqueville Asset Management L.P. cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 230,604 shares of the company’s stock after selling 4,272 shares during the period. Tocqueville Asset Management L.P.’s holdings in Emerson Electric were worth $12,028,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. Hutchinson Capital Management CA boosted its stake in shares of Emerson Electric by 16.6% in the first quarter. Hutchinson Capital Management CA now owns 197,999 shares of the company’s stock valued at $10,768,000 after buying an additional 28,250 shares during the last quarter. Columbia Partners L L C Investment Management raised its stake in Emerson Electric by 6.5% in the first quarter. Columbia Partners L L C Investment Management now owns 43,114 shares of the company’s stock valued at $2,344,000 after buying an additional 2,622 shares during the period. BlackRock Fund Advisors raised its stake in Emerson Electric by 1.4% in the first quarter. BlackRock Fund Advisors now owns 11,329,238 shares of the company’s stock valued at $616,084,000 after buying an additional 155,560 shares during the period. Woodstock Corp raised its stake in Emerson Electric by 10.6% in the first quarter. Woodstock Corp now owns 111,037 shares of the company’s stock valued at $6,038,000 after buying an additional 10,640 shares during the period. Finally, Aston Asset Management LLC raised its stake in Emerson Electric by 50.9% in the first quarter. Aston Asset Management LLC now owns 30,116 shares of the company’s stock valued at $1,638,000 after buying an additional 10,160 shares during the period. 69.40% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Co. (NYSE:EMR) traded down 0.64% during trading on Friday, reaching $49.88. The company had a trading volume of 3,790,225 shares. Emerson Electric Co. has a 12-month low of $41.25 and a 12-month high of $56.82. The firm has a market capitalization of $32.10 billion, a PE ratio of 17.66 and a beta of 1.19. The firm’s 50 day moving average price is $52.22 and its 200 day moving average price is $53.28.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. Analysts anticipate that Emerson Electric Co. will post $2.92 earnings per share for the current year.
Several research firms recently weighed in on EMR. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Wells Fargo & Co. restated a “hold” rating and issued a $52.00 target price on shares of Emerson Electric in a report on Monday, July 18th. Barclays PLC restated an “equal weight” rating and issued a $55.00 target price (down from $56.00) on shares of Emerson Electric in a report on Monday, July 18th. Buckingham Research lowered Emerson Electric from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $49.00 to $44.00 in a report on Friday, August 19th. Finally, Credit Suisse Group AG lowered Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 target price for the company. in a report on Friday, August 19th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.91.
Emerson Electric Company Profile
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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