Essex Savings Bank Cuts Stock Position in Emerson Electric Co. (NYSE:EMR)

Essex Savings Bank trimmed its position in shares of Emerson Electric Co. (NYSE:EMR) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,119 shares of the industrial products company’s stock after selling 1,351 shares during the period. Essex Savings Bank’s holdings in Emerson Electric were worth $1,130,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Newport Trust Company LLC bought a new stake in shares of Emerson Electric in the 2nd quarter worth approximately $574,908,000. 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 worth $226,443,000 after purchasing an additional 2,051,764 shares during the period. Van ECK Associates Corp lifted its stake in 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 purchasing an additional 2,016,075 shares during the last quarter. State Street Corp grew its stake in shares of Emerson Electric by 6.2% during the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock valued at $2,822,858,000 after buying an additional 1,507,980 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of Emerson Electric by 127.3% in the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after acquiring an additional 1,424,800 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Emerson Electric from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Stephens downgraded shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. Royal Bank of Canada dropped their price target on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. StockNews.com cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Finally, Jefferies Financial Group assumed coverage on shares of Emerson Electric in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.89.

Emerson Electric Stock Up 0.8 %

EMR opened at $120.75 on Thursday. Emerson Electric Co. has a 1-year low of $91.64 and a 1-year high of $134.85. The firm’s 50 day simple moving average is $127.30 and its two-hundred day simple moving average is $115.01. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $68.77 billion, a PE ratio of 35.31, a PEG ratio of 1.98 and a beta of 1.35.

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were given a dividend of $0.5275 per share. The ex-dividend date was Friday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a yield of 1.75%. Emerson Electric’s payout ratio is 61.70%.

Insiders Place Their Bets

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 directly owns 262,408 shares in the company, valued at $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 SEC, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Emerson Electric 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.