Larson Financial Group LLC increased its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 130.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,541 shares of the industrial products company's stock after buying an additional 5,393 shares during the period. Larson Financial Group LLC's holdings in Emerson Electric were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in Emerson Electric in the 3rd quarter valued at $25,000. Darwin Wealth Management LLC acquired a new position in Emerson Electric in the 3rd quarter valued at $29,000. Frazier Financial Advisors LLC acquired a new position in Emerson Electric in the 3rd quarter valued at $33,000. Meeder Asset Management Inc. raised its stake in Emerson Electric by 361.5% in the 2nd 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 position in Emerson Electric in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 74.30% of the company's stock.
Emerson Electric Trading Up 2.1 %
Emerson Electric stock traded up $2.72 during midday trading on Monday, reaching $132.79. 5,740,084 shares of the stock traded hands, compared to its average volume of 2,753,577. The company has a 50-day simple moving average of $114.63 and a two-hundred day simple moving average of $110.88. Emerson Electric Co. has a 12-month low of $87.55 and a 12-month high of $133.54. The firm has a market cap of $75.72 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26.
Emerson Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.59%. This is a boost from Emerson Electric's previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. Emerson Electric's dividend payout ratio (DPR) is 61.70%.
Wall Street Analyst Weigh In
Several research firms recently commented on EMR. Morgan Stanley began coverage on Emerson Electric in a research note on Friday, September 6th. They issued an "underweight" rating and a $105.00 price objective for the company. KeyCorp raised their target price on Emerson Electric from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Barclays raised their target price on Emerson Electric from $103.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 6th. Oppenheimer raised their target price on Emerson Electric from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Finally, UBS Group initiated coverage on Emerson Electric in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $135.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Emerson Electric presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.00.
Check Out Our Latest Research Report on Emerson Electric
Insider Activity at Emerson Electric
In other 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 value of $2,711,289.00. Following the completion of the transaction, the senior vice president now owns 262,408 shares in the company, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.
Emerson Electric Company Profile
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Free Report)
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.
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