Raymond James Trust N.A. Boosts Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Raymond James Trust N.A. lifted its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 42,548 shares of the industrial products company’s stock after purchasing an additional 287 shares during the period. Raymond James Trust N.A.’s holdings in Emerson Electric were worth $4,653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newport Trust Company LLC purchased a new stake in shares of Emerson Electric during the 2nd quarter worth about $574,908,000. Legal & General Group Plc grew its stake in Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after buying an additional 224,784 shares during the period. Van ECK Associates Corp increased its position in shares of Emerson Electric by 107.2% in the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock worth $422,852,000 after acquiring an additional 2,016,075 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Emerson Electric by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,287,326 shares of the industrial products company’s stock valued at $359,535,000 after acquiring an additional 23,739 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Emerson Electric by 3.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock worth $297,653,000 after purchasing an additional 88,294 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the completion of the transaction, the senior vice president now directly owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. BNP Paribas started coverage on Emerson Electric in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 price objective on the stock. Morgan Stanley initiated coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target on the stock. UBS Group assumed coverage on Emerson Electric in a report on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 price target for the company. Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $135.00 to $120.00 in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada lowered their price target on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

Emerson Electric Trading Up 1.4 %

NYSE:EMR opened at $130.07 on Friday. Emerson Electric Co. has a 52 week low of $87.55 and a 52 week high of $131.56. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The company has a market cap of $74.17 billion, a PE ratio of 38.03, a P/E/G ratio of 2.17 and a beta of 1.30. The business’s 50 day moving average is $114.02 and its two-hundred day moving average is $110.74.

Emerson Electric Increases Dividend

The firm also recently disclosed 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. This represents a $2.11 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is currently 61.70%.

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.