Latest Stocks: Tufton Capital Management Cuts Stake in Emerson Electric Co. (EMR)

Latest Stocks: Tufton Capital Management Cuts Stake in Emerson Electric Co. (EMR)

Tufton Capital Management cut its position in shares of Emerson Electric Co. (NYSE:EMR) by 1.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 141,509 shares of the industrial products company’s stock after selling 2,465 shares during the period. Emerson Electric comprises approximately 1.7% of Tufton Capital Management’s investment portfolio, making the stock its 18th largest position. Tufton Capital Management’s holdings in Emerson Electric were worth $8,471,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Payden & Rygel boosted its stake in shares of Emerson Electric by 3.9% in the third quarter. Payden & Rygel now owns 175,100 shares of the industrial products company’s stock valued at $9,545,000 after buying an additional 6,600 shares in the last quarter. Cobblestone Capital Advisors LLC NY boosted its stake in shares of Emerson Electric by 14.4% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 28,438 shares of the industrial products company’s stock valued at $1,550,000 after buying an additional 3,574 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Emerson Electric by 7.9% in the third quarter. Schroder Investment Management Group now owns 3,981,313 shares of the industrial products company’s stock valued at $217,022,000 after buying an additional 293,186 shares in the last quarter. Lipe & Dalton boosted its stake in shares of Emerson Electric by 4.3% in the third quarter. Lipe & Dalton now owns 45,420 shares of the industrial products company’s stock valued at $2,476,000 after buying an additional 1,890 shares in the last quarter. Finally, Mcdaniel Terry & Co. boosted its stake in shares of Emerson Electric by 1.7% in the third quarter. Mcdaniel Terry & Co. now owns 280,018 shares of the industrial products company’s stock valued at $15,264,000 after buying an additional 4,799 shares in the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Co. (NYSE EMR) opened at 59.07 on Tuesday. Emerson Electric Co. has a 12 month low of $48.45 and a 12 month high of $64.36. The firm has a market capitalization of $38.07 billion, a price-to-earnings ratio of 25.23 and a beta of 1.17. The company has a 50 day moving average price of $59.13 and a 200 day moving average price of $58.78.

Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $0.58 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.58. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.49 billion. Emerson Electric had a return on equity of 19.19% and a net margin of 10.74%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. Analysts anticipate that Emerson Electric Co. will post $2.60 earnings per share for the current fiscal year.

Several analysts have weighed in on EMR shares. Royal Bank of Canada reissued a “hold” rating and set a $55.00 price objective on shares of Emerson Electric in a report on Wednesday, February 8th. Barclays PLC boosted their price objective on Emerson Electric from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. Wells Fargo & Co reissued a “market perform” rating on shares of Emerson Electric in a report on Wednesday, February 8th. Stifel Nicolaus boosted their price objective on Emerson Electric from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Finally, Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, February 14th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $55.34. Emerson Electric Company Profile

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