The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Emerson Electric Co. shares valued at $4,367,798 were sold by Flavin Lisa on Jun 27. At $89.65 per share, Flavin Lisa sold 48,718 shares. The insider’s holdings dropped to 51,748 shares worth approximately $4.95 million following the completion of this transaction.
Also, Karsanbhai Surendralal Lanca sold 4,603 shares, netting a total of over 441,244 in proceeds. Following the sale of shares at $95.86 each, the insider now holds 99,591 shares.
Before that, DELLAQUILA FRANK J had sold 83,073 shares from its account. In a trade valued at $7,565,657, the Senior Exec. VP and CFO traded Emerson Electric Co. shares for $91.07 each. Upon closing the transaction, the insider’s holdings decreased to 83,073 shares, worth approximately $26.02 million.
As published in a research note from JP Morgan on August 22, 2023, Emerson Electric Co. [EMR] has been rated up from a Neutral to an Overweight and the price target has been revised to $107 from $83. This represents a 10.51% premium over Thursday’s closing price.
Analyzing EMR Stock Performance
On Thursday, Emerson Electric Co. [NYSE: EMR] plunged -0.91% to $95.75. The stock’s lowest price that day was $95.705, but it reached a high of $97.285 in the same session. During the last five days, there has been a surge of approximately 0.02%. Over the course of the year, Emerson Electric Co. shares have dropped approximately -0.32%. Shares of the company reached a 52-week high of $99.65 on 01/09/23 and a 52-week low of $76.94 on 05/31/23. A 50-day SMA is recorded $92.05, while a 200-day SMA reached $88.98. Nevertheless, trading volume fell to 2.03 million shares from 1.98 million shares the previous day.
Support And Resistance Levels for Emerson Electric Co. (EMR)
According to the 24-hour chart, there is a support level at 95.21, which, if violated, would cause prices to drop to 94.67. In the upper region, resistance lies at 96.79. The next price resistance is at 97.83. RSI (Relative Strength Index) is 58.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.19, which suggests the price will decrease in the coming days. Percent R is at 50.54%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Emerson Electric Co. subject to short interest?
Stocks of Emerson Electric Co. saw a sharp rise in short interest on Jul 30, 2023 jumping by 0.23 million shares to 5.99 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 5.76 million shares. A jump of 3.84% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.7 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.7.
Which companies own the most shares of Emerson Electric Co. (EMR)?
According to The Vanguard Group, Inc. filings, the company currently owns 50,363,682 shares, which is about 8.81% of the total EMR shares outstanding. The investor’s shares have appreciated by 264,446 from its previous 13-F filing of 50099236.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,385,266,067. SSgA Funds Management, Inc. acquire a 0.26% interest valued at $2.24 billion while Wellington Management Co. LLP purchased a 3,330,546 stake. A total of 225,683 shares of Emerson Electric Co. were bought by Geode Capital Management LLC during the quarter, and -267,668 were sold by Wells Fargo Clearing Services LLC. In its current portfolio, Norges Bank Investment Management holds 7,314,237 shares valued at $668.16 million.
In terms of Emerson Electric Co. share price expectations, FactSet research, analysts set an average price target of $108.32 in the next 12 months, up nearly 13.84% from the previous closing price of $96.63. Analysts anticipate Emerson Electric Co. stock to reach $122.00 by 2023, with the lowest price target being $95.00. In spite of this, 23 analysts ranked Emerson Electric Co. stock as an Overweight at the end of 2023.