Exxonmobil Investment Management Inc. TX Lowers Stake in Emerson Electric Company (EMR)
Exxonmobil Investment Management Inc. TX cut its stake in shares of Emerson Electric Company (NYSE:EMR) by 12.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 102,052 shares of the industrial products company’s stock after selling 14,825 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Emerson Electric were worth $7,112,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in shares of Emerson Electric during the 2nd quarter valued at $109,000. Intellectus Partners LLC lifted its holdings in shares of Emerson Electric by 0.3% during the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 7 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Emerson Electric during the 2nd quarter valued at $129,000. AT Bancorp acquired a new position in shares of Emerson Electric during the 2nd quarter valued at $139,000. Finally, Cable Hill Partners LLC acquired a new position in shares of Emerson Electric during the 3rd quarter valued at $151,000. 69.18% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. Vertical Research upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a report on Tuesday, January 2nd. Cowen reiterated a “buy” rating and issued a $72.00 price objective on shares of Emerson Electric in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $75.00 price objective on shares of Emerson Electric in a report on Monday, December 11th. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $66.00 price objective on shares of Emerson Electric in a report on Friday, December 8th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.86.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. sell-side analysts forecast that Emerson Electric Company will post 2.92 earnings per share for the current year.
In other news, VP Bell Katherine Button sold 7,909 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $64.78, for a total value of $512,345.02. Following the sale, the vice president now owns 44,628 shares in the company, valued at approximately $2,891,001.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Frank J. Dellaquila sold 2,100 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total transaction of $136,017.00. Following the completion of the sale, the vice president now owns 178,743 shares in the company, valued at approximately $11,577,184.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,017 shares of company stock worth $1,771,129. Company insiders own 0.79% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2018/01/18/exxonmobil-investment-management-inc-tx-lowers-stake-in-emerson-electric-company-emr.html.
Emerson Electric Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
Want to see what other hedge funds are holding EMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emerson Electric Company (NYSE:EMR).
Receive News & Stock Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related stocks with our FREE daily email newsletter.