ICICI Prudential Asset Management Co Ltd Grows Stake in Emerson Electric Co. (NYSE:EMR)

ICICI Prudential Asset Management Co Ltd increased its stake in Emerson Electric Co. (NYSE:EMR) by 91.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,256 shares of the industrial products company’s stock after purchasing an additional 33,978 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Emerson Electric were worth $7,793,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Thrive Wealth Management LLC raised its position in shares of Emerson Electric by 4.1% during the 2nd quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock valued at $255,000 after buying an additional 91 shares during the period. LCM Capital Management Inc boosted its stake in shares of Emerson Electric by 1.4% during the second quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 91 shares during the last quarter. Sabal Trust CO boosted its stake in Emerson Electric by 2.2% in the 2nd quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock worth $475,000 after buying an additional 93 shares during the last quarter. Catalyst Financial Partners LLC raised its position in shares of Emerson Electric by 3.7% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock worth $287,000 after buying an additional 94 shares during the period. Finally, Unison Advisors LLC lifted its holdings in shares of Emerson Electric by 0.5% during the 2nd quarter. Unison Advisors LLC now owns 21,016 shares of the industrial products company’s stock valued at $2,315,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on EMR shares. Barclays raised their price objective on shares of Emerson Electric from $103.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Robert W. Baird lifted their target price on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. BNP Paribas initiated coverage on shares of Emerson Electric in a research note on Wednesday. They set an “outperform” rating and a $155.00 target price on the stock. Morgan Stanley initiated coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on shares of Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.00.

Insider Transactions at Emerson Electric

In other news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the completion of the sale, the senior vice president now directly owns 262,408 shares in the company, valued at approximately $33,052,911.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Emerson Electric Stock Performance

Shares of Emerson Electric stock traded up $2.24 during trading on Wednesday, hitting $130.64. 585,898 shares of the stock were exchanged, compared to its average volume of 2,725,485. Emerson Electric Co. has a 1-year low of $87.17 and a 1-year high of $131.05. The stock has a market capitalization of $74.82 billion, a price-to-earnings ratio of 38.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.30. The company has a fifty day moving average price of $109.40 and a 200-day moving average price of $109.56. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26.

Emerson Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.5275 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.62%. Emerson Electric’s dividend payout ratio (DPR) is presently 61.40%.

Emerson Electric Company Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.