Emerson Electric Co. (NYSE:EMR) Stock Holdings Lifted by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 14.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,950 shares of the industrial products company's stock after purchasing an additional 37,304 shares during the period. Emerson Electric comprises approximately 0.6% of Pinnacle Financial Partners Inc's investment portfolio, making the stock its 29th biggest position. Pinnacle Financial Partners Inc owned 0.05% of Emerson Electric worth $32,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Newport Trust Company LLC acquired a new stake in Emerson Electric during the second quarter worth approximately $574,908,000. Legal & General Group Plc grew its position in Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company's stock valued at $496,877,000 after buying an additional 224,784 shares during the period. Van ECK Associates Corp increased its position in Emerson Electric by 107.2% in the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company's stock worth $422,852,000 after buying an additional 2,016,075 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Emerson Electric by 3.3% during 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 last quarter. Finally, Swedbank AB grew its position in shares of Emerson Electric by 127.3% in the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company's stock valued at $278,285,000 after purchasing an additional 1,424,800 shares in the last quarter. Institutional investors own 74.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EMR shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Emerson Electric from $136.00 to $140.00 and gave the company a "buy" 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 company an "outperform" rating in a research note on Thursday, September 26th. Barclays lifted their target price on shares of Emerson Electric from $103.00 to $116.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 6th. Stephens downgraded shares of Emerson Electric from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. Finally, Morgan Stanley assumed coverage on Emerson Electric in a research note on Friday, September 6th. They set an "underweight" rating and a $105.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $130.00.

Emerson Electric Stock Performance

Shares of NYSE EMR traded up $1.76 during trading hours on Wednesday, reaching $130.16. The stock had a trading volume of 3,125,260 shares, compared to its average volume of 2,737,643. 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 market cap of $74.54 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 2.16 and a beta of 1.30. Emerson Electric Co. has a fifty-two week low of $87.17 and a fifty-two week high of $131.56. The firm has a 50-day moving average of $109.40 and a 200-day moving average of $109.56.

Emerson Electric Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.62%. This is an increase from Emerson Electric's previous quarterly dividend of $0.53. Emerson Electric's dividend payout ratio (DPR) is 61.40%.

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the company's stock in a transaction dated 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 directly owns 262,408 shares in the company, valued at approximately $33,052,911.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

Emerson Electric Company Profile

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.