First PREMIER Bank lowered its stake in Emerson Electric Company (NYSE:EMR) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,098 shares of the industrial products company’s stock after selling 1,489 shares during the period. Emerson Electric makes up 1.6% of First PREMIER Bank’s holdings, making the stock its 18th biggest holding. First PREMIER Bank’s holdings in Emerson Electric were worth $2,306,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new position in Emerson Electric in the third quarter valued at about $12,652,000. APG Asset Management N.V. grew its position in Emerson Electric by 10.8% in the third quarter. APG Asset Management N.V. now owns 3,921,119 shares of the industrial products company’s stock valued at $246,403,000 after acquiring an additional 383,300 shares during the last quarter. Fagan Associates Inc. grew its position in Emerson Electric by 19.3% in the second quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock valued at $356,000 after acquiring an additional 968 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in Emerson Electric by 6.6% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock valued at $601,000 after acquiring an additional 620 shares during the last quarter. Finally, Andra AP fonden grew its position in Emerson Electric by 5.2% in the second quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock valued at $5,682,000 after acquiring an additional 4,700 shares during the last quarter. Institutional investors own 69.18% of the company’s stock.
Shares of Emerson Electric Company (NYSE EMR) opened at $73.45 on Friday. Emerson Electric Company has a 12 month low of $56.77 and a 12 month high of $74.45. The company has a market capitalization of $46,665.09, a PE ratio of 31.26, a PEG ratio of 2.69 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64.
A number of research analysts have issued reports on EMR shares. Vertical Research upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research report on Tuesday, January 2nd. Edward Jones cut Emerson Electric from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Cowen upgraded Emerson Electric to a “buy” rating and set a $71.00 target price on the stock in a research report on Monday, October 23rd. Royal Bank of Canada reiterated a “neutral” rating on shares of Emerson Electric in a research report on Thursday, November 9th. Finally, Citigroup reiterated a “sell” rating and issued a $61.00 target price (up previously from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. Emerson Electric has an average rating of “Hold” and an average target price of $66.43.
In other news, VP Bell Katherine Button sold 7,909 shares of Emerson Electric stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $64.78, for a total transaction of $512,345.02. Following the sale, the vice president now directly owns 44,628 shares of the company’s stock, valued at $2,891,001.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of Emerson Electric stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $65.74, for a total value of $623,872.60. Following the sale, the chief operating officer now directly owns 168,984 shares in the company, valued at $11,109,008.16. The disclosure for this sale can be found here. Insiders have sold 27,017 shares of company stock worth $1,771,129 over the last three months. Insiders own 0.79% of the company’s stock.
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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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