Summit Asset Management LLC Boosts Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Summit Asset Management LLC lifted its stake in Emerson Electric Co. (NYSE:EMR) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,451 shares of the industrial products company’s stock after purchasing an additional 2,124 shares during the period. Summit Asset Management LLC’s holdings in Emerson Electric were worth $1,362,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Emerson Electric

In related news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $125.96, for a total value of $2,711,289.00. Following the sale, the senior vice president now owns 262,408 shares of the company’s stock, valued at $33,052,911.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Barclays upped their target price on Emerson Electric from $103.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Robert W. Baird upped their price target on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Royal Bank of Canada dropped their price objective on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. One 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. According to data from MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and an average target price of $130.00.

Emerson Electric Price Performance

EMR opened at $130.16 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $109.40 and its 200 day moving average price is $109.56. Emerson Electric Co. has a fifty-two week low of $87.17 and a fifty-two week high of $131.56. The firm has a market cap of $74.54 billion, a price-to-earnings ratio of 38.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.30.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric’s dividend payout ratio 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.