Emerson Electric Co. (NYSE:EMR) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in Emerson Electric Co. (NYSE:EMR) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 163,255 shares of the industrial products company’s stock after selling 22,602 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Emerson Electric were worth $17,855,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EMR. State Board of Administration of Florida Retirement System lifted its holdings in shares of Emerson Electric by 10.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 671,736 shares of the industrial products company’s stock worth $76,188,000 after purchasing an additional 65,507 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Emerson Electric by 17.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 788,994 shares of the industrial products company’s stock worth $89,488,000 after purchasing an additional 117,330 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of Emerson Electric by 11.9% during the first quarter. Kingsview Wealth Management LLC now owns 69,615 shares of the industrial products company’s stock worth $7,896,000 after purchasing an additional 7,418 shares during the period. Zevin Asset Management LLC lifted its holdings in shares of Emerson Electric by 3.4% during the first quarter. Zevin Asset Management LLC now owns 139,441 shares of the industrial products company’s stock worth $15,815,000 after purchasing an additional 4,532 shares during the period. Finally, Maple Capital Management Inc. acquired a new stake in shares of Emerson Electric during the first quarter worth about $202,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Trading Up 1.2 %

NYSE EMR traded up $1.51 on Wednesday, reaching $129.91. 262,920 shares of the company were exchanged, compared to its average volume of 2,724,632. The business’s fifty day moving average price is $109.40 and its 200 day moving average price is $109.56. The stock has a market capitalization of $74.40 billion, a P/E ratio of 37.55, a price-to-earnings-growth ratio of 2.17 and a beta of 1.30. 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 Co. has a fifty-two week low of $87.17 and a fifty-two week high of $130.30.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.5275 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is 61.40%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EMR. Morgan Stanley began coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target for the company. Oppenheimer lifted their price target on 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 price target on Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their price target on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Stephens cut Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average target price of $129.17.

Insider Activity

In other news, SVP Michael H. Train sold 21,525 shares of the company’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 transaction, the senior vice president now owns 262,408 shares of the company’s stock, valued at $33,052,911.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.