Connor Clark & Lunn Investment Management Ltd. Cuts Stake in Emerson Electric Co. (NYSE:EMR)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 18.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,657 shares of the industrial products company's stock after selling 39,156 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Emerson Electric were worth $18,337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Newport Trust Company LLC purchased a new position in Emerson Electric during the 2nd quarter valued at about $574,908,000. Pathway Financial Advisers LLC increased its stake in shares of Emerson Electric by 10,993.2% during the third quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company's stock valued at $226,443,000 after purchasing an additional 2,051,764 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Emerson Electric by 107.2% during the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company's stock valued at $422,852,000 after purchasing an additional 2,016,075 shares during the last quarter. Swedbank AB boosted its position in shares of Emerson Electric by 127.3% in the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company's stock worth $278,285,000 after purchasing an additional 1,424,800 shares in the last quarter. Finally, Perpetual Ltd grew its stake in shares of Emerson Electric by 57,336.1% in the 3rd quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company's stock worth $131,918,000 after buying an additional 1,204,058 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

Insider Activity

In other news, SVP Michael H. Train sold 21,525 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 262,408 shares in the company, valued at $33,052,911.68. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EMR shares. Robert W. Baird boosted 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. Morgan Stanley started coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an "underweight" rating and a $105.00 price objective on the stock. Stephens cut shares of Emerson Electric from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. Oppenheimer increased their price target on shares of Emerson Electric from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. Finally, UBS Group began coverage on Emerson Electric in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $135.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average price target of $130.00.

Emerson Electric Stock Performance

EMR traded up $0.62 during trading on Thursday, hitting $129.72. The company's stock had a trading volume of 290,647 shares, compared to its average volume of 2,731,608. Emerson Electric Co. has a one year low of $87.55 and a one year high of $131.56. The business's 50 day simple moving average is $112.92 and its 200-day simple moving average is $110.45. 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 firm has a market cap of $73.97 billion, a PE ratio of 37.75, a P/E/G ratio of 2.17 and a beta of 1.30.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.5275 dividend. This is a boost from Emerson Electric's previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.63%. Emerson Electric's dividend payout ratio is presently 61.70%.

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.