BlackRock Fund Advisors has recently announced that it has increased stake in Emerson Electric Co. (NYSE:EMR) by 0.10%. After grabbing 26.14 million shares, the institutional investor is now in possession of 26912.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 4.59% having worth around $2.32 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.35 million to have a control over 24.92 million shares. And Geode Capital Management LLC raised its holdings to 0.2 million shares by acquiring 10.74 million shares or 1.88% of the stake.
Emerson Electric Co. (EMR) concluded trading on 12/21/23 at a closing price of $95.71, with 2.11 million shares of worth about $202.15 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 10.42% during that period and on Thursday the price saw a gain of about 1.11%. Currently the company’s common shares owned by public are about 572.00M shares, out of which, 567.81M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 25 analysts are covering the EMR stock and their offered price forecasts bring an average price target of $107.95. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $133.00 and could fall to a lowest price of $88.00. The stock’s current price level is 11.34% above of average price target set by the analysts, while a rise to estimated low would result in loss of -8.76% for the stock. However, touching the estimated high of $133.00 would mean a gain of 28.04% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 57 times over the past 12 months. They bought 482,804 shares in 44 of the transactions. In 13 selling transactions, insiders dumped 167,761 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Government Pension Fund – Global are the top 3 mutual funds which are holding stakes in Emerson Electric Co. Vanguard Total Stock Market ETF is currently holding 17.89 million shares of worth totaling $1.59 billion. The company recently came buying 86846.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 66189.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 13.8 million shares with the mutual fund that have a worth of about $1.23 billion. Government Pension Fund – Global, after buying 7.17 million shares, have now control over 1.26% of the stake in the company. It holds 1.31 million shares of worth $637.82 million.
Emerson Electric Co. (NYSE: EMR) started trading at $95.18, above $0.52 from concluding price of the previous day. However, the stock later moved at a day high price of 95.91, or with a gain of 1.11%. Stock saw a price change of -0.86% in past 5 days and over the past one month there was a price change of 8.02%. Year-to-date (YTD), EMR shares are showing a performance of -0.36% which increased to 0.70% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $76.94 but also hit the highest price of $100.62 during that period. The average intraday trading volume for Emerson Electric Co. shares is 3.10 million. The stock is currently trading 5.48% above its 20-day simple moving average (SMA20), while that difference is up 5.86% for SMA50 and it goes to 6.91% higher than SMA200.
BlackRock Fund Advisors acquired 26.14 million shares of Emerson Electric Co. having value of about $2.32 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 26912.0 shares in the company valued at close to $2575747.52, or have control over 0.10% stake in the company. Emerson Electric Co. (NYSE: EMR) currently have 572.00M outstanding shares and institutions hold larger chunk of about 75.80% of that. Holding of mutual funds in the company is about 34.71% while other institutional holders and individual stake holders have control over 41.93% and 1.76% of the stake respectively.
The stock has a current market capitalization of $54.56B and its 3Y-monthly beta is at 1.33. It has posted earnings per share of -$0.30 in the same period. It has Quick Ratio of 2.35 while making debt-to-equity ratio of 0.42. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EMR, volatility over the week remained 1.20% while standing at 1.44% over the month.
Analysts are in expectations that Emerson Electric Co. (EMR) stock would likely to be making an EPS of $1.04 in the current quarter, while forecast for next quarter EPS is $1.26 and it is $5.7 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.99 which is $1.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.78 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 17.47% while it is estimated to increase by 9.64% in next year.
Analysts at 25 brokerage firms have issued recommendations for the Emerson Electric Co. (EMR)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.56. Out of those 25 Wall Street analysts, 17 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by KeyBanc Capital Markets on October 03, 2023 offering an Overweight rating for the stock and assigned a target price of $120 to it.
