Eastern Bank Has $47.33 Million Stake in Emerson Electric Co. (NYSE:EMR)

Eastern Bank increased its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 381,919 shares of the industrial products company's stock after purchasing an additional 59,850 shares during the period. Eastern Bank owned 0.07% of Emerson Electric worth $47,331,000 as of its most recent filing with the Securities and Exchange Commission.

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

Emerson Electric Stock Performance

Emerson Electric stock traded up $0.56 during mid-day trading on Monday, reaching $118.50. The company had a trading volume of 2,254,883 shares, compared to its average volume of 2,420,769. The company has a 50 day moving average of $127.26 and a 200-day moving average of $114.94. Emerson Electric Co. has a 52 week low of $91.64 and a 52 week high of $134.85. 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 $67.49 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.19 and a beta of 1.35.

Emerson Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a dividend of $0.5275 per share. The ex-dividend date was Friday, November 15th. 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 1.78%. Emerson Electric's payout ratio is currently 61.70%.

Insiders Place Their Bets

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the company's stock in a transaction 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 sale, the senior vice president now directly owns 262,408 shares in the company, valued at $33,052,911.68. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EMR. Wells Fargo & Company decreased their price target on shares of Emerson Electric from $145.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada decreased their price objective on shares of Emerson Electric from $139.00 to $138.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Barclays increased their price target 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. Jefferies Financial Group initiated coverage on Emerson Electric in a research note on Thursday, December 12th. They set a "buy" rating and a $160.00 price objective on the stock. Finally, Loop Capital boosted their price target on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $134.84.

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.