PNC Financial Services Group Inc. Lowers Stake in Emerson Electric Co. (NYSE:EMR)

PNC Financial Services Group Inc. lessened its stake in Emerson Electric Co. (NYSE:EMR) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,836,420 shares of the industrial products company’s stock after selling 39,030 shares during the period. PNC Financial Services Group Inc. owned 0.32% of Emerson Electric worth $200,849,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EMR. Newport Trust Company LLC purchased a new position in Emerson Electric during the second quarter valued at approximately $574,908,000. Pathway Financial Advisers LLC increased its holdings in shares of 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 valued at $226,443,000 after acquiring an additional 2,051,764 shares during the period. Van ECK Associates Corp raised its position in shares of Emerson Electric by 107.2% in the 3rd 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. Swedbank AB lifted its stake in shares of Emerson Electric by 127.3% during the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after purchasing an additional 1,424,800 shares during the last quarter. Finally, Perpetual Ltd boosted its position in Emerson Electric by 57,336.1% during the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock valued at $131,918,000 after purchasing an additional 1,204,058 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

NYSE:EMR opened at $129.20 on Tuesday. The firm has a market cap 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 current ratio of 1.77 and a quick ratio of 1.40. Emerson Electric Co. has a 1-year low of $87.55 and a 1-year high of $131.56. The firm’s fifty day moving average price is $111.73 and its 200 day moving average price is $110.16.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio (DPR) is currently 61.70%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EMR shares. Morgan Stanley began coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price target on the stock. UBS Group initiated coverage on shares of Emerson Electric in a report on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 price target on the stock. KeyCorp raised their price objective on Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Finally, BNP Paribas initiated coverage on shares of Emerson Electric in a research report on Wednesday, November 13th. They set an “outperform” rating and a $155.00 target price on the stock. 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. Based on data from MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

Insider Activity

In other Emerson Electric 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 completion of the transaction, the senior vice president now directly owns 262,408 shares in the company, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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.