KBC Group NV Grows Holdings in Emerson Electric Company (EMR)
KBC Group NV raised its stake in Emerson Electric Company (NYSE:EMR) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,196 shares of the industrial products company’s stock after purchasing an additional 4,492 shares during the quarter. KBC Group NV’s holdings in Emerson Electric were worth $4,602,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Emerson Electric by 5.8% during the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock valued at $2,615,777,000 after acquiring an additional 2,404,844 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Emerson Electric by 135.9% during the first quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock valued at $177,372,000 after acquiring an additional 1,706,810 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Emerson Electric by 217.1% during the second quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock valued at $145,480,000 after acquiring an additional 1,684,786 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Emerson Electric by 19.4% during the first quarter. American Century Companies Inc. now owns 4,338,862 shares of the industrial products company’s stock valued at $259,724,000 after acquiring an additional 705,924 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Emerson Electric by 3,745.5% during the first quarter. Bank of Nova Scotia now owns 561,400 shares of the industrial products company’s stock valued at $33,771,000 after acquiring an additional 546,801 shares in the last quarter. 70.03% of the stock is currently owned by institutional investors.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is currently owned by corporate insiders.
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Several analysts have recently weighed in on the company. Citigroup Inc. restated a “sell” rating and set a $61.00 target price (up from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. Stifel Nicolaus restated a “buy” rating on shares of Emerson Electric in a research note on Thursday. Morgan Stanley restated an “equal weight” rating and set a $67.00 target price (up from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. JMP Securities started coverage on Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price target (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.71.
Shares of Emerson Electric Company (NYSE EMR) opened at 63.97 on Monday. Emerson Electric Company has a 12-month low of $49.38 and a 12-month high of $64.40. The company has a market cap of $40.94 billion, a PE ratio of 28.55 and a beta of 1.21. The stock’s 50 day moving average price is $62.04 and its 200-day moving average price is $60.08.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.68. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. On average, equities research analysts forecast that Emerson Electric Company will post $2.60 earnings per share for the current year.
Emerson Electric Company 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.
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