Convergence Investment Partners LLC Buys Shares of 14,853 Emerson Electric Co. (NYSE:EMR)

Convergence Investment Partners LLC purchased a new position in Emerson Electric Co. (NYSE:EMR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,853 shares of the industrial products company’s stock, valued at approximately $921,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Verus Capital Partners LLC purchased a new stake in Emerson Electric in the fourth quarter worth about $27,000. Ballast Advisors LLC purchased a new stake in Emerson Electric in the first quarter worth about $25,000. MBE Wealth Management LLC purchased a new stake in Emerson Electric in the first quarter worth about $25,000. Balentine LLC purchased a new stake in Emerson Electric in the first quarter worth about $32,000. Finally, Independence Bank of Kentucky increased its position in Emerson Electric by 150.0% in the second quarter. Independence Bank of Kentucky now owns 750 shares of the industrial products company’s stock worth $47,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 71.50% of the company’s stock.

A number of analysts have commented on the company. Zacks Investment Research upgraded Emerson Electric from a “sell” rating to a “hold” rating and set a $60.00 price target for the company in a research report on Tuesday, May 19th. Cowen reiterated a “hold” rating and set a $63.00 target price on shares of Emerson Electric in a research report on Wednesday, April 29th. UBS Group increased their target price on Emerson Electric from $47.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Argus upgraded Emerson Electric from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Wednesday, April 22nd. Finally, TheStreet upgraded Emerson Electric from a “c+” rating to a “b-” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Emerson Electric currently has a consensus rating of “Hold” and an average price target of $64.93.

In other news, COO Steven J. Pelch sold 5,061 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $67.51, for a total value of $341,668.11. Also, VP Bell Katherine Button sold 687 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 29,741 shares of the company’s stock, valued at $1,851,972.07. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

NYSE EMR traded down $0.64 during trading on Friday, hitting $62.01. 3,472,268 shares of the stock traded hands, compared to its average volume of 2,238,790. The company has a market capitalization of $37.05 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 3.22 and a beta of 1.50. The firm has a 50-day simple moving average of $61.89 and a 200-day simple moving average of $60.95. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. Emerson Electric Co. has a 12-month low of $37.75 and a 12-month high of $78.38.

Emerson Electric 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.

Further Reading: Market Timing

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

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