Somerset Trust Co boosted its position in shares of Emerson Electric Co. (NYSE:EMR) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,842 shares of the industrial products company’s stock after purchasing an additional 364 shares during the period. Somerset Trust Co’s holdings in Emerson Electric were worth $1,826,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Verus Capital Partners LLC grew its stake in Emerson Electric by 70.7% in the 1st quarter. Verus Capital Partners LLC now owns 601 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 249 shares in the last quarter. Keebeck Wealth Management LLC bought a new position in Emerson Electric in the 2nd quarter worth about $30,000. Balentine LLC bought a new position in Emerson Electric in the 1st quarter worth about $32,000. Independence Bank of Kentucky grew its stake in Emerson Electric by 150.0% in the 2nd quarter. Independence Bank of Kentucky now owns 750 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 450 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in Emerson Electric by 493.8% in the 2nd quarter. Sound Income Strategies LLC now owns 962 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 72.37% of the company’s stock.
A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Emerson Electric from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Tuesday. Berenberg Bank initiated coverage on shares of Emerson Electric in a research report on Thursday, August 20th. They issued a “buy” rating and a $83.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Emerson Electric from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Morgan Stanley upped their price target on shares of Emerson Electric from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 30th. Finally, Stephens initiated coverage on shares of Emerson Electric in a research report on Thursday. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $67.81.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 4th. The industrial products company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.19. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Emerson Electric had a net margin of 11.39% and a return on equity of 26.12%. Emerson Electric’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. Research analysts anticipate that Emerson Electric Co. will post 3.3 earnings per share for the current year.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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