Ironwood Investment Counsel Lowers stake in Emerson Electric Co. (EMR)

Emerson Electric Co. (EMR) : Ironwood Investment Counsel reduced its stake in Emerson Electric Co. by 44.26% during the most recent quarter end. The investment management company now holds a total of 37,925 shares of Emerson Electric Co. which is valued at $2,046,812 after selling 30,115 shares in Emerson Electric Co. , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Emerson Electric Co. makes up approximately 1.17% of Ironwood Investment Counsel’s portfolio.

Other Hedge Funds, Including , Jupiter Asset Management Ltd reduced its stake in EMR by selling 9,800 shares or 5.49% in the most recent quarter. The Hedge Fund company now holds 168,715 shares of EMR which is valued at $9,105,549. Emerson Electric Co. makes up approx 0.37% of Jupiter Asset Management Ltd’s portfolio. Biltmore Wealth Management sold out all of its stake in EMR during the most recent quarter. The investment firm sold 12,019 shares of EMR which is valued $635,925.Everence Capital Management Inc reduced its stake in EMR by selling 7,610 shares or 26.75% in the most recent quarter. The Hedge Fund company now holds 20,841 shares of EMR which is valued at $1,102,697. Emerson Electric Co. makes up approx 0.33% of Everence Capital Management Inc’s portfolio.Chemung Canal Trust Co reduced its stake in EMR by selling 89,373 shares or 50.01% in the most recent quarter. The Hedge Fund company now holds 89,321 shares of EMR which is valued at $4,993,044. Emerson Electric Co. makes up approx 1.15% of Chemung Canal Trust Co’s portfolio.Pacwest Financial Management Inc boosted its stake in EMR in the latest quarter, The investment management firm added 180 additional shares and now holds a total of 30,255 shares of Emerson Electric Co. which is valued at $1,670,984. Emerson Electric Co. makes up approx 1.02% of Pacwest Financial Management Inc’s portfolio.

Emerson Electric Co. closed down -1.69 points or -3.09% at $52.98 with 80,71,575 shares getting traded on Friday. Post opening the session at $52.28, the shares hit an intraday low of $52.0728 and an intraday high of $53.2 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 Downgraded by Credit Suisse to ” Neutral” on Aug 19, 2016. Emerson Electric Co. was Downgraded by Buckingham Research to ” Underperform” on Aug 19, 2016. Emerson Electric Co. was Resumed by JP Morgan to “Neutral” on Aug 8, 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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