Proffitt & Goodson Inc. Acquires 244 Shares of Emerson Electric Co. (NYSE:EMR)

Proffitt & Goodson Inc. increased its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 2.3% in the third quarter, Holdings Channel.com reports. The fund owned 11,029 shares of the industrial products company’s stock after buying an additional 244 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Emerson Electric were worth $1,206,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Kennebec Savings Bank bought a new stake in Emerson Electric during the 3rd quarter valued at about $65,000. Ashton Thomas Securities LLC purchased a new stake in shares of Emerson Electric in the third quarter valued at approximately $111,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Emerson Electric by 13.4% in the third quarter. Crossmark Global Holdings Inc. now owns 167,557 shares of the industrial products company’s stock valued at $18,326,000 after purchasing an additional 19,763 shares during the period. Baker Avenue Asset Management LP bought a new position in Emerson Electric in the third quarter worth approximately $205,000. Finally, Mayflower Financial Advisors LLC lifted its holdings in shares of Emerson Electric by 12.6% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 2,074 shares of the industrial products company’s stock worth $227,000 after buying an additional 232 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Insider Transactions at Emerson Electric

In related news, SVP Michael H. Train sold 21,525 shares of the firm’s stock in a transaction 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 owns 262,408 shares in the company, valued at $33,052,911.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EMR. Robert W. Baird raised their price target on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Oppenheimer raised 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. Wells Fargo & Company increased their price objective 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. StockNews.com raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Barclays lifted their price target on Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve 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 target price of $127.65.

Emerson Electric Stock Performance

EMR opened at $127.26 on Monday. The firm’s 50-day moving average price is $108.39 and its 200-day moving average price is $109.30. The company has a market cap of $72.88 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. Emerson Electric Co. has a 52-week low of $85.00 and a 52-week high of $128.56.

Emerson Electric Increases Dividend

The business also recently declared 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 dividend yield of 1.66%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio (DPR) is currently 61.40%.

About Emerson Electric

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.