Palisade Asset Management LLC Cuts Stake in Emerson Electric Co. (NYSE:EMR)

Palisade Asset Management LLC decreased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,246 shares of the industrial products company’s stock after selling 851 shares during the period. Palisade Asset Management LLC’s holdings in Emerson Electric were worth $3,855,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of Emerson Electric by 55.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock worth $931,000 after buying an additional 3,060 shares during the period. Bank of Montreal Can lifted its stake in shares of Emerson Electric by 17.0% in the 2nd quarter. Bank of Montreal Can now owns 1,339,301 shares of the industrial products company’s stock valued at $152,359,000 after purchasing an additional 194,944 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Emerson Electric by 8.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 69,285 shares of the industrial products company’s stock worth $7,578,000 after purchasing an additional 5,416 shares during the period. V Square Quantitative Management LLC raised its holdings in Emerson Electric by 82.0% in the third quarter. V Square Quantitative Management LLC now owns 3,977 shares of the industrial products company’s stock valued at $435,000 after buying an additional 1,792 shares during the period. Finally, Proactive Wealth Strategies LLC acquired a new position in Emerson Electric during the third quarter valued at approximately $443,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Insider Activity

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the firm’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 owns 262,408 shares of the company’s stock, valued at $33,052,911.68. This trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EMR shares. Wells Fargo & Company raised their target price on shares of Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” 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 objective for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. StockNews.com upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley started coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target on the stock. Finally, KeyCorp lifted their price objective on shares of Emerson Electric from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One 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.com, Emerson Electric presently has an average rating of “Moderate Buy” and a consensus target price of $130.00.

Emerson Electric Price Performance

Shares of EMR opened at $130.07 on Friday. 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 $74.17 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.15 and a beta of 1.30. Emerson Electric Co. has a 52 week low of $87.55 and a 52 week high of $131.56. The stock has a 50 day moving average of $114.02 and a 200-day moving average of $110.74.

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 dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric’s dividend payout ratio is 61.70%.

Emerson Electric 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.