Eastern Bank Lowers stake in Emerson Electric Co. (EMR)

Emerson Electric Co. (EMR) : Eastern Bank reduced its stake in Emerson Electric Co. by 0.49% during the most recent quarter end. The investment management company now holds a total of 300,195 shares of Emerson Electric Co. which is valued at $14,973,727 after selling 1,465 shares in Emerson Electric Co. , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Emerson Electric Co. makes up approximately 1.22% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Farmers Trust Co reduced its stake in EMR by selling 1,574 shares or 22.65% in the most recent quarter. The Hedge Fund company now holds 5,375 shares of EMR which is valued at $268,105. Emerson Electric Co. makes up approx 0.09% of Farmers Trust Co’s portfolio.Community Bank N.a. boosted its stake in EMR in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 40,570 shares of Emerson Electric Co. which is valued at $2,036,614. Emerson Electric Co. makes up approx 0.47% of Community Bank N.a.’s portfolio.Ct Financial Advisors boosted its stake in EMR in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 7,138 shares of Emerson Electric Co. which is valued at $362,539. Emerson Electric Co. makes up approx 0.23% of Ct Financial Advisors’s portfolio. Highwater Wealth Management added EMR to its portfolio by purchasing 4,531 company shares during the most recent quarter which is valued at $243,269. Emerson Electric Co. makes up approx 1.37% of Highwater Wealth Management’s portfolio.

Emerson Electric Co. closed down -0.32 points or -0.64% at $49.88 with 37,90,225 shares getting traded on Friday. Post opening the session at $50.56, the shares hit an intraday low of $49.88 and an intraday high of $50.65 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Emerson Electric Co. reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.63. The company had revenue of $4928.00 million for the quarter, compared to analysts expectations of $4896.67 million. The company’s revenue was down -8.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Emerson Electric Co.. Emerson Electric Co. was Initiated by HSBC Securities to “Reduce” on Oct 7, 2016. Berenberg Initiated Emerson Electric Co. on Oct 3, 2016 to “Sell”, Price Target of the shares are set at $41.Emerson Electric Co. was Downgraded by Credit Suisse to ” Neutral” on Aug 19, 2016.

Emerson Electric Co. is engaged in offering technology and engineering together that provides solutions for customers in industrial commercial and consumer markets around the world. The company operates through five business segments: Process Management Industrial Automation Network Power Climate Technologies and Commercial & Residential Solutions. The Process Management segment provides measurement control and diagnostic capabilities for automated industrial processes. The Industrial Automation segment provides integrated manufacturing solutions to its customers at the source of manufacturing their own products. The Network Power segment designs manufactures installs and maintains products providing grid-to-chip electric power conditioning. The Climate Technologies segment provides products and services for the climate control industry. The Company’s Commercial & Residential Solutions segment offers a range of tools storage products and appliance solutions.

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