Cornercap Investment Counsel Inc. Sells 19,298 Shares of Emerson Electric Co. (NYSE:EMR)

Cornercap Investment Counsel Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 74.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,771 shares of the industrial products company's stock after selling 19,298 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Emerson Electric were worth $741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EMR. Newport Trust Company LLC acquired a new position in Emerson Electric during the second quarter valued at approximately $574,908,000. Pathway Financial Advisers LLC lifted its holdings in Emerson Electric by 10,993.2% during the 3rd 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 during the last quarter. Van ECK Associates Corp boosted 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 worth $422,852,000 after acquiring an additional 2,016,075 shares during the period. Swedbank AB boosted its stake in Emerson Electric by 127.3% in the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company's stock valued at $278,285,000 after purchasing an additional 1,424,800 shares during the period. Finally, Perpetual Ltd increased its position in Emerson Electric by 57,336.1% during the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company's stock worth $131,918,000 after acquiring an additional 1,204,058 shares during the period. Institutional investors own 74.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BNP Paribas started coverage on shares of Emerson Electric in a report on Wednesday. They set an "outperform" rating and a $155.00 price target for the company. JPMorgan Chase & Co. cut Emerson Electric from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $132.00 to $115.00 in a research note on Wednesday, August 14th. Morgan Stanley started coverage on shares of Emerson Electric in a research report on Friday, September 6th. They issued an "underweight" rating and a $105.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Emerson Electric from $136.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company upped their price objective on shares of Emerson Electric from $128.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Emerson Electric currently has a consensus rating of "Moderate Buy" and an average price target of $130.00.

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of Emerson Electric 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 completion of the transaction, the senior vice president now owns 262,408 shares of the company's stock, valued at $33,052,911.68. The trade was a 7.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company's stock.

Emerson Electric Stock Performance

NYSE:EMR traded down $1.69 on Friday, reaching $126.78. 2,672,017 shares of the company's stock were exchanged, compared to its average volume of 2,741,654. The stock has a fifty day simple moving average of $111.14 and a 200-day simple moving average of $109.96. Emerson Electric Co. has a 52 week low of $87.17 and a 52 week high of $131.56. 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 cap of $72.29 billion, a price-to-earnings ratio of 37.07, a P/E/G ratio of 2.18 and a beta of 1.30.

Emerson Electric Increases Dividend

The firm 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 $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.66%. This is a positive change from Emerson Electric's previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. Emerson Electric's payout ratio is currently 61.70%.

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.