GLOBALT Investments LLC GA Decreases Stake in Emerson Electric Co. (NYSE:EMR)

GLOBALT Investments LLC GA lowered its stake in Emerson Electric Co. (NYSE:EMR) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,052 shares of the industrial products company’s stock after selling 1,698 shares during the period. GLOBALT Investments LLC GA’s holdings in Emerson Electric were worth $7,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EMR. Capital Performance Advisors LLP purchased a new position in shares of Emerson Electric in the third quarter worth $25,000. Transcendent Capital Group LLC purchased a new position in shares of Emerson Electric in the first quarter worth $31,000. Meeder Asset Management Inc. raised its holdings in shares of Emerson Electric by 361.5% during the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 235 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new position in shares of Emerson Electric during the third quarter worth $33,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Emerson Electric during the third quarter worth $33,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michael H. Train sold 21,525 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 262,408 shares of the company’s stock, valued at $33,052,911.68. The trade was a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

EMR has been the subject of several recent research reports. Barclays raised 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. Oppenheimer lifted their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price objective on shares of Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a report on Thursday. 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. According to data from MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

Emerson Electric Stock Performance

NYSE:EMR opened at $126.78 on Monday. The company has a fifty day simple moving average of $111.14 and a two-hundred day simple moving average of $110.00. The company has a market cap of $72.29 billion, a price-to-earnings ratio of 37.07, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. Emerson Electric Co. has a 52 week low of $87.17 and a 52 week high of $131.56.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.5275 per share. The ex-dividend date is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is presently 61.40%.

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.