Chemung Canal Trust Co. Sells 5,301 Shares of Emerson Electric Co. (NYSE:EMR)

Chemung Canal Trust Co. lowered its holdings in Emerson Electric Co. (NYSE:EMR) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 79,370 shares of the industrial products company’s stock after selling 5,301 shares during the period. Emerson Electric accounts for 2.1% of Chemung Canal Trust Co.’s portfolio, making the stock its 11th largest holding. Chemung Canal Trust Co.’s holdings in Emerson Electric were worth $9,836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pathway Financial Advisers LLC raised its position in Emerson Electric by 10,993.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock valued at $226,443,000 after purchasing an additional 2,051,764 shares during the last quarter. Van ECK Associates Corp lifted its position in Emerson Electric by 107.2% during the 3rd quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock worth $422,852,000 after buying an additional 2,016,075 shares in the last quarter. State Street Corp increased its position 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 valued at $2,822,858,000 after acquiring an additional 1,507,980 shares in the last quarter. Swedbank AB lifted its position in shares of Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after purchasing an additional 1,424,800 shares in the last quarter. Finally, Perpetual Ltd increased its holdings in shares of Emerson Electric by 57,336.1% in the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock valued at $131,918,000 after purchasing an additional 1,204,058 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EMR shares. KeyCorp upped their price target on Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $135.00 to $120.00 in a report on Wednesday, October 16th. Loop Capital boosted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 2nd. BNP Paribas began coverage on Emerson Electric in a research report on Wednesday, November 13th. They set an “outperform” rating and a $155.00 price target on the stock. Finally, StockNews.com lowered Emerson Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.89.

Insider Activity at Emerson Electric

In related news, SVP Michael H. Train sold 21,525 shares of the business’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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Emerson Electric Stock Performance

Shares of EMR stock opened at $130.62 on Friday. The company has a fifty day moving average price of $127.02 and a two-hundred day moving average price of $115.76. The stock has a market cap of $74.39 billion, a P/E ratio of 38.19, a P/E/G ratio of 2.22 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. Emerson Electric Co. has a one year low of $91.64 and a one year high of $134.85.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.62%. Emerson Electric’s payout ratio is presently 61.70%.

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.