Needelman Asset Management Inc Lowers stake in Emerson Electric Co. (EMR)

Emerson Electric Co. (EMR) : Needelman Asset Management Inc reduced its stake in Emerson Electric Co. by 2.95% during the most recent quarter end. The investment management company now holds a total of 17,265 shares of Emerson Electric Co. which is valued at $866,703 after selling 525 shares in Emerson Electric Co. , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Emerson Electric Co. makes up approximately 2.67% of Needelman Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Private Bank Trust Co boosted its stake in EMR in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 12,033 shares of Emerson Electric Co. which is valued at $604,057. Emerson Electric Co. makes up approx 0.09% of Private Bank Trust Co’s portfolio.Capstone Asset Management Co reduced its stake in EMR by selling 450 shares or 0.14% in the most recent quarter. The Hedge Fund company now holds 332,446 shares of EMR which is valued at $16,884,932. Emerson Electric Co. makes up approx 0.49% of Capstone Asset Management Co’s portfolio.Prospera Financial Services Inc boosted its stake in EMR in the latest quarter, The investment management firm added 212 additional shares and now holds a total of 7,677 shares of Emerson Electric Co. which is valued at $389,915. Emerson Electric Co. makes up approx 0.08% of Prospera Financial Services Inc’s portfolio.Cobiz Investment Management reduced its stake in EMR by selling 420 shares or 3.33% in the most recent quarter. The Hedge Fund company now holds 12,178 shares of EMR which is valued at $630,455. Emerson Electric Co. makes up approx 0.15% of Cobiz Investment Management’s portfolio.Raymond James Trust N.a. reduced its stake in EMR by selling 6,204 shares or 11.03% in the most recent quarter. The Hedge Fund company now holds 50,056 shares of EMR which is valued at $2,591,399. Emerson Electric Co. makes up approx 0.22% of Raymond James Trust N.a.’s portfolio.

Emerson Electric Co. closed down -0.98 points or -1.89% at $50.79 with 46,56,819 shares getting traded on Tuesday. Post opening the session at $51.53, the shares hit an intraday low of $50.53 and an intraday high of $51.68 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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