Parsec Financial Management Inc. increased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 329,679 shares of the industrial products company’s stock after buying an additional 19,451 shares during the period. Emerson Electric accounts for about 1.4% of Parsec Financial Management Inc.’s portfolio, making the stock its 21st largest holding. Parsec Financial Management Inc.’s holdings in Emerson Electric were worth $21,996,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Glassman Wealth Services raised its stake in Emerson Electric by 240.7% in the 1st quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 284 shares in the last quarter. Larson Financial Group LLC raised its stake in Emerson Electric by 80.3% in the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 196 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Emerson Electric in the 1st quarter worth about $34,000. Legacy Advisors LLC acquired a new stake in Emerson Electric in the 1st quarter worth about $41,000. Finally, Buffington Mohr McNeal acquired a new stake in Emerson Electric in the 1st quarter worth about $41,000. 70.41% of the stock is owned by institutional investors and hedge funds.

In related news, insider Michael H. Train sold 12,278 shares of Emerson Electric stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.80, for a total transaction of $783,336.40. Following the sale, the insider now directly owns 129,298 shares of the company’s stock, valued at approximately $8,249,212.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bell Katherine Button sold 15,791 shares of Emerson Electric stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $63.91, for a total transaction of $1,009,202.81. Following the sale, the vice president now directly owns 30,304 shares in the company, valued at $1,936,728.64. The disclosure for this sale can be found here. Insiders have sold a total of 40,333 shares of company stock worth $2,583,230 over the last ninety days. 0.07% of the stock is currently owned by insiders.

Shares of NYSE:EMR traded up $0.60 during midday trading on Tuesday, hitting $66.90. The stock had a trading volume of 795,919 shares, compared to its average volume of 2,204,185. The stock has a 50-day moving average price of $65.23. The company has a market capitalization of $40.97 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.13 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Emerson Electric Co. has a fifty-two week low of $55.38 and a fifty-two week high of $79.70.

Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.84 EPS for the quarter, meeting the consensus estimate of $0.84. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Emerson Electric had a net margin of 12.81% and a return on equity of 24.63%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. As a group, equities research analysts expect that Emerson Electric Co. will post 3.65 earnings per share for the current fiscal year.

Several brokerages have weighed in on EMR. Citigroup lifted their price objective on shares of Visteon from $58.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday. Zacks Investment Research cut shares of Phoenix New Media from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Finally, Credit Suisse Group restated an “outperform” rating on shares of in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $75.19.

Emerson Electric Company 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.

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

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