Eagle Asset Management Inc. Lowers Stake in Emerson Electric Co. (NYSE:EMR)

Eagle Asset Management Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 563,387 shares of the industrial products company’s stock after selling 18,013 shares during the period. Eagle Asset Management Inc. owned 0.10% of Emerson Electric worth $61,618,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Emerson Electric during the third quarter worth about $25,000. Darwin Wealth Management LLC purchased a new position in Emerson Electric in the third quarter valued at approximately $29,000. Transcendent Capital Group LLC acquired a new position in Emerson Electric during the first quarter valued at approximately $31,000. Meeder Asset Management Inc. grew its stake in Emerson Electric by 361.5% during the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after buying an additional 235 shares during the period. Finally, Morton Brown Family Wealth LLC purchased a new position in shares of Emerson Electric in the 3rd quarter valued at $33,000. 74.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EMR. Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. Barclays upped their target price on Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Emerson Electric in a research note on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective on the stock. StockNews.com upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company upped their price objective on Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus target price of $130.00.

Insiders Place Their Bets

In other news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total value of $2,711,289.00. Following the transaction, the senior vice president now owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Emerson Electric Trading Down 0.6 %

NYSE EMR opened at $128.38 on Friday. The stock has a market capitalization of $73.20 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 2.17 and a beta of 1.30. Emerson Electric Co. has a 52 week low of $87.55 and a 52 week high of $131.56. The stock’s 50 day moving average price is $113.46 and its two-hundred day moving average price is $110.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 1.77.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.64%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric’s payout ratio is presently 61.70%.

About Emerson Electric

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.