Cumberland Partners Ltd Boosts Stock Position in Emerson Electric Co. (NYSE:EMR)

Cumberland Partners Ltd raised its stake in Emerson Electric Co. (NYSE:EMR) by 8.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,850 shares of the industrial products company’s stock after acquiring an additional 900 shares during the period. Cumberland Partners Ltd’s holdings in Emerson Electric were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of EMR. Newport Trust Company LLC purchased a new position in shares of Emerson Electric during the 2nd quarter worth approximately $574,908,000. Pathway Financial Advisers LLC raised its position in Emerson Electric by 10,993.2% in the third quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock worth $226,443,000 after acquiring an additional 2,051,764 shares in the last quarter. Van ECK Associates Corp lifted its holdings 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 valued at $422,852,000 after acquiring an additional 2,016,075 shares during the period. Swedbank AB boosted its position 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 in the last quarter. Finally, Perpetual Ltd increased its holdings in shares of Emerson Electric by 57,336.1% in the 3rd 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. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Stock Performance

Emerson Electric stock opened at $128.42 on Wednesday. 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 stock has a 50 day moving average of $108.87 and a 200-day moving average of $109.43. The stock has a market cap of $73.55 billion, a P/E ratio of 37.55, a price-to-earnings-growth ratio of 2.17 and a beta of 1.30. Emerson Electric Co. has a 52 week low of $85.91 and a 52 week high of $130.30.

Emerson Electric Increases Dividend

The business 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 dividend of $0.5275 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, November 15th. Emerson Electric’s dividend payout ratio (DPR) is currently 61.40%.

Analysts Set New Price Targets

A number of research firms recently commented on EMR. Oppenheimer boosted their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Royal Bank of Canada reduced their price objective on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird raised their target price on shares of Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. Finally, Morgan Stanley assumed coverage on Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.65.

Insider Transactions at Emerson Electric

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 stock was 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 in the company, valued at $33,052,911.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate 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.