Eastern Bank Boosts Holdings in Emerson Electric Co. (NYSE:EMR)

Eastern Bank boosted its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 18.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 381,919 shares of the industrial products company’s stock after buying an additional 59,850 shares during the quarter. Eastern Bank’s holdings in Emerson Electric were worth $47,331,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp raised its holdings in shares of 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 valued at $2,822,858,000 after purchasing an additional 1,507,980 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Emerson Electric by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company’s stock worth $1,591,612,000 after buying an additional 581,102 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Emerson Electric by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock valued at $1,247,570,000 after acquiring an additional 162,985 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Emerson Electric by 5.7% during the 4th quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company’s stock worth $871,083,000 after acquiring an additional 375,470 shares in the last quarter. Finally, Newport Trust Company LLC acquired a new position in Emerson Electric in the second quarter valued at approximately $574,908,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of EMR traded up $0.38 during trading hours on Monday, reaching $118.32. The company had a trading volume of 1,521,057 shares, compared to its average volume of 2,295,070. The company has a market capitalization of $67.39 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.19 and a beta of 1.35. Emerson Electric Co. has a 12-month low of $91.64 and a 12-month high of $134.85. The firm has a 50 day simple moving average of $127.08 and a 200-day simple moving average of $114.87. 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 declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a $0.5275 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is currently 61.70%.

Analyst Ratings Changes

A number of research firms recently commented on EMR. Oppenheimer increased their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Barclays lifted their target price on Emerson Electric from $116.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Robert W. Baird raised their price target on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on Emerson Electric from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group started coverage on shares of Emerson Electric in a report on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.84.

Insider Buying and Selling

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 stock was sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the completion of the transaction, the senior vice president now directly owns 262,408 shares in the company, valued at $33,052,911.68. The trade was a 7.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.

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.