Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,080 shares of the industrial products company's stock, valued at approximately $556,000.
Several other hedge funds have also modified their holdings of the stock. State Street Corp boosted its stake in Emerson Electric by 6.2% in the 3rd quarter. State Street Corp now owns 25,810,167 shares of the industrial products company's stock worth $2,822,858,000 after purchasing an additional 1,507,980 shares during the period. Stevens Capital Management LP purchased a new stake in shares of Emerson Electric in the third quarter valued at $212,000. Quantinno Capital Management LP boosted its position in shares of Emerson Electric by 101.7% in the third quarter. Quantinno Capital Management LP now owns 55,808 shares of the industrial products company's stock worth $6,104,000 after buying an additional 28,136 shares during the period. Royal London Asset Management Ltd. raised its position in Emerson Electric by 3.5% during the third quarter. Royal London Asset Management Ltd. now owns 235,201 shares of the industrial products company's stock valued at $25,724,000 after buying an additional 7,968 shares during the period. Finally, Reynders McVeigh Capital Management LLC lifted its stake in Emerson Electric by 7.8% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 7,584 shares of the industrial products company's stock worth $829,000 after acquiring an additional 550 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
EMR has been the subject of a number of research analyst reports. Loop Capital increased their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday. Morgan Stanley initiated coverage on shares of Emerson Electric in a research report on Friday, September 6th. They issued an "underweight" rating and a $105.00 target price for the company. Royal Bank of Canada lowered their price target on shares of Emerson Electric from $139.00 to $138.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Stephens lowered Emerson Electric from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. Finally, UBS Group started coverage on Emerson Electric in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $135.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.17.
Read Our Latest Stock Analysis on Emerson Electric
Emerson Electric Stock Performance
NYSE:EMR traded down $0.69 during mid-day trading on Friday, hitting $132.46. 710,727 shares of the company's stock traded hands, compared to its average volume of 2,737,978. 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 of $119.07 and a two-hundred day moving average of $111.98. The firm has a market capitalization of $75.44 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 2.24 and a beta of 1.34. Emerson Electric Co. has a 12 month low of $87.71 and a 12 month high of $134.85.
Emerson Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 annualized dividend and a dividend yield of 1.59%. Emerson Electric's dividend payout ratio (DPR) is presently 61.70%.
Insider Buying and Selling
In other news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction that occurred on 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 transaction, 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 7.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.
Emerson Electric Company 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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