153,364 Shares in Emerson Electric Co. $EMR Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Emerson Electric Co. (NYSE:EMR) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 153,364 shares of the industrial products company’s stock, valued at approximately $23,787,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in Emerson Electric during the 2nd quarter valued at $6,193,425,000. State Street Corp grew its holdings in Emerson Electric by 1.5% during the 2nd quarter. State Street Corp now owns 27,678,497 shares of the industrial products company’s stock worth $3,962,177,000 after acquiring an additional 403,957 shares in the last quarter. Bank of America Corp DE acquired a new position in Emerson Electric during the 2nd quarter worth $2,629,146,000. ABS Investment Management LLC bought a new stake in shares of Emerson Electric in the 2nd quarter worth about $858,900,000. Finally, Bank of New York Mellon Corp increased its position in shares of Emerson Electric by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 6,315,661 shares of the industrial products company’s stock worth $827,478,000 after purchasing an additional 117,513 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EMR shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Emerson Electric from $169.00 to $174.00 and gave the company a “hold” rating in a research note on Wednesday, September 30th. Sanford C. Bernstein lifted their price target on Emerson Electric from $169.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Wall Street Zen raised Emerson Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley upped their price objective on Emerson Electric from $135.00 to $145.00 and gave the company an “underweight” rating in a research note on Monday, October 19th. Finally, Evercore cut their price objective on Emerson Electric from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus price target of $172.17.

Insiders Place Their Bets

In related news, CEO Surendralal Karsanbhai sold 9,650 shares of Emerson Electric stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total value of $1,562,431.50. Following the sale, the chief executive officer directly owned 271,743 shares in the company, valued at $43,997,909.13. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $166.02 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 0.37. Emerson Electric Co. has a fifty-two week low of $122.64 and a fifty-two week high of $171.25. The firm has a 50-day simple moving average of $157.23 and a 200 day simple moving average of $147.26. The company has a market cap of $92.99 billion, a PE ratio of 26.49, a P/E/G ratio of 2.33 and a beta of 1.21.

Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.03. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Emerson Electric had a net margin of 13.83% and a return on equity of 17.58%. Emerson Electric’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $1.52 earnings per share. On average, sell-side analysts anticipate that Emerson Electric Co. will post 6.56 EPS for the current year.

Emerson Electric Company Profile

Emerson Electric Co (NYSE: EMR) is a global technology and engineering company that provides automation, control, and industrial technology solutions. Its offerings include measurement and analytical instruments, control systems, valves, regulators, software, and related services used to improve the safety, efficiency, and reliability of industrial operations.

The company serves customers across industries such as energy, chemicals, life sciences, food and beverage, manufacturing, and commercial and residential applications.