Verity & Verity LLC Has $235,000 Stock Position in Emerson Electric Co. (NYSE:EMR)

Verity & Verity LLC reduced its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 36.0% in the third quarter, Holdings Channel reports. The institutional investor owned 2,147 shares of the industrial products company’s stock after selling 1,210 shares during the period. Verity & Verity LLC’s holdings in Emerson Electric were worth $235,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Emerson Electric during the third quarter valued at about $25,000. Transcendent Capital Group LLC bought a new position in shares of Emerson Electric during the first quarter valued at about $31,000. Frazier Financial Advisors LLC bought a new position in shares of Emerson Electric during the third quarter valued at about $33,000. Meeder Asset Management Inc. lifted its position 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 valued at $33,000 after purchasing an additional 235 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in shares of Emerson Electric during the third quarter valued at about $33,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Stock Performance

Shares of EMR stock opened at $129.20 on Tuesday. Emerson Electric Co. has a one year low of $87.55 and a one year high of $131.56. The company’s 50-day moving average is $111.73 and its 200 day moving average is $110.16. The company has a market capitalization of $73.67 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 1.77.

Emerson Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.63%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. Emerson Electric’s dividend payout ratio is 61.70%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EMR shares. Wells Fargo & Company raised their price target on shares of Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Emerson Electric in a research note on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective for the company. KeyCorp boosted their price target on shares of Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Barclays upped their price target on shares of Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus target price of $130.00.

Insider Activity

In other news, SVP Michael H. Train sold 21,525 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the sale, the senior vice president now owns 262,408 shares of the company’s stock, valued at $33,052,911.68. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.