Emerson Electric Co. (NYSE:EMR) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC reduced its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 20.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,374 shares of the industrial products company’s stock after selling 857 shares during the period. Lake Street Private Wealth LLC’s holdings in Emerson Electric were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp boosted its holdings in Emerson Electric by 6.2% in the 3rd quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock worth $2,822,858,000 after acquiring an additional 1,507,980 shares during the period. Wellington Management Group LLP grew its holdings in Emerson Electric by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company’s stock valued at $1,591,612,000 after purchasing an additional 581,102 shares in the last quarter. Geode Capital Management LLC increased its stake in Emerson Electric by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock worth $1,247,570,000 after buying an additional 162,985 shares during the period. Nordea Investment Management AB lifted its holdings in Emerson Electric by 5.7% in the 4th quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company’s stock worth $871,083,000 after buying an additional 375,470 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after acquiring an additional 224,784 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on EMR. KeyCorp boosted 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. Loop Capital increased their target price on Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Barclays upped their price target on shares of Emerson Electric from $116.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price objective on shares of Emerson Electric from $137.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.89.

Emerson Electric Stock Performance

Shares of EMR stock opened at $124.65 on Friday. The business has a 50 day simple moving average of $127.05 and a 200 day simple moving average of $115.22. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. The firm has a market capitalization of $70.99 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 1.98 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 disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.5275 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, November 15th. Emerson Electric’s payout ratio is currently 61.70%.

Insider Buying and Selling

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 shares were sold at an average price of $125.96, for a total value of $2,711,289.00. Following the completion of the sale, the senior vice president now directly owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This represents a 7.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

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.