Essex Savings Bank Sells 283 Shares of Emerson Electric Co. (NYSE:EMR)

Essex Savings Bank reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 2.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 10,620 shares of the industrial products company’s stock after selling 283 shares during the period. Essex Savings Bank’s holdings in Emerson Electric were worth $659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EMR. Ballast Advisors LLC bought a new stake in Emerson Electric during the first quarter worth approximately $25,000. MBE Wealth Management LLC bought a new stake in Emerson Electric during the first quarter worth approximately $25,000. Verus Capital Partners LLC bought a new stake in Emerson Electric during the fourth quarter worth approximately $27,000. Balentine LLC bought a new stake in Emerson Electric during the first quarter worth approximately $32,000. Finally, Harwood Advisory Group LLC bought a new stake in Emerson Electric during the first quarter worth approximately $35,000. 71.50% of the stock is currently owned by institutional investors.

In other news, COO Steven J. Pelch sold 5,061 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $67.51, for a total transaction of $341,668.11. Also, VP Bell Katherine Button sold 687 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $62.27, for a total value of $42,779.49. Following the sale, the vice president now owns 29,741 shares of the company’s stock, valued at approximately $1,851,972.07. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Emerson Electric stock traded down $0.64 during mid-day trading on Friday, reaching $62.01. 3,472,268 shares of the company were exchanged, compared to its average volume of 2,238,790. The business has a fifty day moving average of $61.89 and a 200 day moving average of $60.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market cap of $37.05 billion, a P/E ratio of 17.72, a PEG ratio of 3.25 and a beta of 1.50. Emerson Electric Co. has a 12-month low of $37.75 and a 12-month high of $78.38.

A number of research analysts have recently commented on EMR shares. Cowen reaffirmed a “hold” rating and set a $63.00 target price on shares of Emerson Electric in a research note on Wednesday, April 29th. UBS Group upped their target price on Emerson Electric from $47.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Argus raised Emerson Electric from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, April 22nd. Morgan Stanley upped their target price on Emerson Electric from $54.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 30th. Finally, Deutsche Bank cut Emerson Electric from a “buy” rating to a “hold” rating and upped their target price for the company from $64.00 to $66.00 in a research note on Tuesday, July 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $64.93.

Emerson Electric Company Profile

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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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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