DAVENPORT & Co LLC Cuts Stock Holdings in Emerson Electric Co. (NYSE:EMR)

DAVENPORT & Co LLC reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 4.6% during the fourth quarter, Holdings Channel reports. The firm owned 108,688 shares of the industrial products company’s stock after selling 5,199 shares during the period. DAVENPORT & Co LLC’s holdings in Emerson Electric were worth $13,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new stake in Emerson Electric in the 4th quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in Emerson Electric during the third quarter worth $25,000. Darwin Wealth Management LLC bought a new position in Emerson Electric in the 3rd quarter valued at $29,000. Fiduciary Advisors Inc. bought a new stake in shares of Emerson Electric during the 4th quarter worth $35,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Emerson Electric in the 3rd quarter worth about $33,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on EMR. Barclays lifted their price objective on shares of Emerson Electric from $116.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Daiwa Capital Markets initiated coverage on Emerson Electric in a research note on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 price objective on the stock. BNP Paribas assumed coverage on Emerson Electric in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 target price for the company. KeyCorp increased their price target on Emerson Electric from $140.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group started coverage on Emerson Electric in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.45.

Emerson Electric Stock Performance

Shares of EMR opened at $129.85 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $127.13 and a 200-day moving average price of $116.45. The company has a market cap of $73.95 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35. Emerson Electric Co. has a 12-month low of $91.64 and a 12-month high of $134.85.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were issued a $0.5275 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.62%. Emerson Electric’s dividend payout ratio is presently 61.70%.

Insider Transactions at Emerson Electric

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 262,408 shares in the company, valued at $33,052,911.68. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

Emerson Electric 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.