Oppenheimer Asset Management Inc. Cuts Stock Position in Emerson Electric Co. (NYSE:EMR)

Oppenheimer Asset Management Inc. decreased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,255 shares of the industrial products company’s stock after selling 22,602 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Emerson Electric were worth $17,855,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of EMR. Newport Trust Company LLC purchased a new position in shares of Emerson Electric in the 2nd quarter valued at about $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 last quarter. Van ECK Associates Corp increased its holdings 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 valued at $422,852,000 after acquiring an additional 2,016,075 shares during the last quarter. Swedbank AB increased its holdings 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. 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 acquiring an additional 1,204,058 shares during the last quarter. Hedge funds and other institutional investors 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 firm’s stock in a transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BNP Paribas assumed coverage on Emerson Electric in a research report on Wednesday. They issued an “outperform” rating and a $155.00 target price for the company. Barclays upped their target price on Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. KeyCorp increased 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. Finally, Wells Fargo & Company increased their price objective on Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.17.

Emerson Electric Price Performance

Emerson Electric stock traded up $1.51 during mid-day trading on Wednesday, hitting $129.91. 262,920 shares of the company were exchanged, compared to its average volume of 2,724,632. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. The business’s 50 day simple moving average is $109.40 and its two-hundred day simple moving average is $109.56. The company has a market capitalization of $74.40 billion, a P/E ratio of 37.55, a PEG ratio of 2.17 and a beta of 1.30. Emerson Electric Co. has a 12-month low of $87.17 and a 12-month high of $130.30.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.5275 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.62%. Emerson Electric’s dividend payout ratio (DPR) is presently 61.40%.

About Emerson Electric

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.