OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 89.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,341 shares of the industrial products company's stock after purchasing an additional 48,416 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Emerson Electric were worth $11,189,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in EMR. Capital Performance Advisors LLP acquired a new stake in shares of Emerson Electric during the 3rd quarter valued at approximately $25,000. Transcendent Capital Group LLC acquired a new stake in shares of Emerson Electric during the 1st quarter valued at approximately $31,000. Meeder Asset Management Inc. raised its position in shares of Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 235 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new stake in shares of Emerson Electric during the 3rd quarter valued at approximately $33,000. Finally, Versant Capital Management Inc raised its position in shares of Emerson Electric by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 269 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.
Emerson Electric Trading Down 1.1 %
Shares of NYSE EMR traded down $1.38 during mid-day trading on Tuesday, hitting $127.82. 1,100,855 shares of the company traded hands, compared to its average volume of 2,726,808. Emerson Electric Co. has a 1 year low of $85.91 and a 1 year high of $130.30. The stock has a market capitalization of $73.20 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 2.13 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $108.87 and a two-hundred day moving average of $109.43.
Emerson Electric Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.5275 dividend. This is an increase from Emerson Electric's previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric's dividend payout ratio is currently 61.70%.
Analyst Upgrades and Downgrades
EMR has been the subject of a number of recent research reports. StockNews.com upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Robert W. Baird upped their price objective on Emerson Electric from $117.00 to $118.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Stephens cut Emerson Electric from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. KeyCorp increased their price target on Emerson Electric from $125.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price target on Emerson Electric from $139.00 to $138.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $127.65.
View Our Latest Stock Analysis on EMR
Insider Buying and Selling
In related news, SVP Michael H. Train sold 21,525 shares of the 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 sale, the senior vice president now directly owns 262,408 shares of the company's stock, valued at approximately $33,052,911.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company's stock.
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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