Huntington National Bank Boosts Holdings in Emerson Electric Co. (NYSE:EMR)

Huntington National Bank lifted its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 782,095 shares of the industrial products company's stock after buying an additional 31,075 shares during the period. Huntington National Bank owned approximately 0.14% of Emerson Electric worth $85,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Newport Trust Company LLC acquired a new stake in shares of Emerson Electric in the 2nd quarter valued at about $574,908,000. Legal & General Group Plc raised its position in Emerson Electric by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company's stock valued at $496,877,000 after purchasing an additional 224,784 shares during the last quarter. Van ECK Associates Corp boosted its stake in Emerson Electric by 107.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company's stock worth $422,852,000 after purchasing an additional 2,016,075 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Emerson Electric by 3.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company's stock valued at $297,653,000 after purchasing an additional 88,294 shares during the period. Finally, Swedbank AB boosted its stake in shares of Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company's stock worth $278,285,000 after buying an additional 1,424,800 shares during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on EMR shares. BNP Paribas began coverage on Emerson Electric in a research note on Wednesday. They set an "outperform" rating and a $155.00 price objective for the company. Barclays increased their price target on Emerson Electric from $103.00 to $116.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their target price on shares of Emerson Electric from $117.00 to $118.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Finally, Morgan Stanley began coverage on shares of Emerson Electric in a report on Friday, September 6th. They set an "underweight" rating and a $105.00 price target for the company. One 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's stock. Based on data from MarketBeat.com, Emerson Electric has a consensus rating of "Moderate Buy" and an average price target of $130.00.

Emerson Electric Price Performance

Shares of NYSE:EMR traded down $0.64 during midday trading on Thursday, hitting $129.52. 1,504,269 shares of the stock were exchanged, compared to its average volume of 2,731,850. Emerson Electric Co. has a twelve month low of $87.17 and a twelve month high of $131.56. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $109.98 and a 200-day moving average price of $109.71. The stock has a market cap of $74.18 billion, a P/E ratio of 38.06, a PEG ratio of 2.16 and a beta of 1.30.

Emerson Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, November 15th. This is an increase from Emerson Electric's previous quarterly dividend of $0.53. Emerson Electric's dividend payout ratio is 61.40%.

Insider Activity

In related news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction on 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 sale, the senior vice president now owns 262,408 shares of the company's stock, valued at $33,052,911.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.25% 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.