Mengis Capital Management Inc. lessened its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,787 shares of the industrial products company's stock after selling 4,922 shares during the quarter. Mengis Capital Management Inc.'s holdings in Emerson Electric were worth $4,023,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of EMR. Capital Performance Advisors LLP acquired a new stake in Emerson Electric in the 3rd quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new stake in shares of Emerson Electric during the first quarter worth $31,000. Meeder Asset Management Inc. grew its holdings in shares of Emerson Electric by 361.5% during the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company's stock valued at $33,000 after buying an additional 235 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of Emerson Electric in the 3rd quarter valued at $33,000. Finally, Versant Capital Management Inc raised its stake in Emerson Electric by 471.9% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.
Analyst Ratings Changes
A number of research firms recently issued reports on EMR. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Emerson Electric from $136.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Barclays upped 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. Stephens cut Emerson Electric from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. Royal Bank of Canada lowered their price objective on Emerson Electric from $139.00 to $138.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Finally, Oppenheimer raised their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Emerson Electric currently has an average rating of "Moderate Buy" and a consensus target price of $130.00.
Get Our Latest Analysis on Emerson Electric
Insider Activity at Emerson Electric
In related news, SVP Michael H. Train sold 21,525 shares of Emerson Electric 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 completion of the transaction, the senior vice president now owns 262,408 shares in the company, valued at approximately $33,052,911.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.
Emerson Electric Trading Up 1.4 %
NYSE EMR traded up $1.76 during trading hours on Wednesday, reaching $130.16. The company had a trading volume of 3,125,260 shares, compared to its average volume of 2,737,643. Emerson Electric Co. has a 1-year low of $87.17 and a 1-year high of $131.56. The stock has a market capitalization of $74.54 billion, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 2.16 and a beta of 1.30. The stock has a 50-day moving average of $109.40 and a 200 day moving average of $109.56. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26.
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 paid a dividend of $0.5275 per share. This is a positive change from Emerson Electric's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.62%. Emerson Electric's dividend payout ratio is presently 61.40%.
About Emerson Electric
(
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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