Hamel Associates Inc. Reduces Stock Position in Emerson Electric Co. (NYSE:EMR)

Hamel Associates Inc. decreased its position in Emerson Electric Co. (NYSE:EMR) by 5.5% during the third quarter, Holdings Channel.com reports. The fund owned 9,362 shares of the industrial products company’s stock after selling 545 shares during the quarter. Hamel Associates Inc.’s holdings in Emerson Electric were worth $1,024,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its stake 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 valued at $76,188,000 after buying an additional 65,507 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Emerson Electric by 17.5% in the 1st 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 in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Emerson Electric by 11.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 69,615 shares of the industrial products company’s stock valued at $7,896,000 after purchasing an additional 7,418 shares in the last quarter. Zevin Asset Management LLC raised its stake in Emerson Electric by 3.4% in the first quarter. Zevin Asset Management LLC now owns 139,441 shares of the industrial products company’s stock worth $15,815,000 after buying an additional 4,532 shares in the last quarter. Finally, Maple Capital Management Inc. purchased a new stake in Emerson Electric in the first quarter worth about $202,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

Shares of NYSE EMR opened at $128.42 on Wednesday. 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 firm’s 50-day moving average price is $109.40 and its 200-day moving average price is $109.56. Emerson Electric Co. has a 52-week low of $85.91 and a 52-week high of $130.30. The company has a market cap of $73.55 billion, a PE ratio of 37.55, a PEG ratio of 2.17 and a beta of 1.30.

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.64%. 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 61.40%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EMR. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Oppenheimer upped their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Robert W. Baird lifted their price target on shares of Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Barclays raised their target price on shares of Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price target on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.17.

Insider Buying and Selling at Emerson Electric

In related news, SVP Michael H. Train sold 21,525 shares of Emerson Electric 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 owns 262,408 shares of the company’s stock, valued at $33,052,911.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.25% 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.