ICICI Prudential Asset Management Co Ltd raised its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 91.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 71,256 shares of the industrial products company's stock after buying an additional 33,978 shares during the period. ICICI Prudential Asset Management Co Ltd's holdings in Emerson Electric were worth $7,793,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Emerson Electric in the 3rd quarter valued at $25,000. Transcendent Capital Group LLC purchased a new stake in shares of Emerson Electric in the 1st quarter valued at $31,000. Meeder Asset Management Inc. boosted its stake in shares of 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 period. Morton Brown Family Wealth LLC purchased a new stake in Emerson Electric during the 3rd quarter worth approximately $33,000. Finally, Versant Capital Management Inc grew its stake in shares of Emerson Electric by 471.9% in the second quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company's stock worth $36,000 after acquiring an additional 269 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently weighed in on EMR. JPMorgan Chase & Co. lowered shares of Emerson Electric from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft increased their target price on Emerson Electric from $136.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Barclays lifted 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. Oppenheimer increased their price objective on 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 report on Wednesday. They issued a "neutral" rating and a $135.00 price target for the company. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $130.00.
Read Our Latest Research Report on Emerson Electric
Emerson Electric Trading Up 1.4 %
EMR traded up $1.76 during midday trading on Wednesday, hitting $130.16. The company's stock had a trading volume of 3,123,285 shares, compared to its average volume of 2,737,643. The firm has a market cap of $74.54 billion, a P/E ratio of 38.39, a PEG ratio of 2.16 and a beta of 1.30. Emerson Electric Co. has a 52-week low of $87.17 and a 52-week 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 firm has a 50-day moving average price of $109.40 and a two-hundred day moving average price of $109.56.
Emerson Electric Increases Dividend
The company 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 dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.62%. 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 payout ratio is 61.40%.
Insider Transactions at Emerson Electric
In related news, SVP Michael H. Train sold 21,525 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $125.96, for a total value of $2,711,289.00. Following 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company's stock.
Emerson Electric 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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