Spire Wealth Management Reduces Stake in Emerson Electric Co. (NYSE:EMR)

Spire Wealth Management decreased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,833 shares of the industrial products company’s stock after selling 825 shares during the period. Spire Wealth Management’s holdings in Emerson Electric were worth $847,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EMR. Pathway Financial Advisers LLC increased its position in Emerson Electric by 10,993.2% during the third quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock worth $226,443,000 after buying an additional 2,051,764 shares in the last quarter. Van ECK Associates Corp increased its position in Emerson Electric by 107.2% during the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock worth $422,852,000 after buying an additional 2,016,075 shares in the last quarter. State Street Corp increased its position in Emerson Electric by 6.2% during the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock worth $2,822,858,000 after buying an additional 1,507,980 shares in the last quarter. Swedbank AB increased its position in Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after buying an additional 1,424,800 shares in the last quarter. Finally, Perpetual Ltd boosted its holdings in shares of Emerson Electric by 57,336.1% during the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock worth $131,918,000 after purchasing an additional 1,204,058 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Up 0.1 %

Shares of NYSE EMR opened at $127.92 on Wednesday. Emerson Electric Co. has a 1 year low of $92.16 and a 1 year high of $134.85. The firm has a market cap of $72.85 billion, a price-to-earnings ratio of 37.40, a PEG ratio of 2.22 and a beta of 1.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 1.77. The stock’s 50-day simple moving average is $127.04 and its 200-day simple moving average is $116.52.

Analyst Ratings Changes

EMR has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on Emerson Electric from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird raised their price objective on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Stephens cut Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $135.00 to $120.00 in a report on Wednesday, October 16th. Finally, Barclays lifted their target price on Emerson Electric from $116.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $136.45.

Emerson Electric Company Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.