Emerson Electric Co. (NYSE:EMR) Stake Reduced by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lowered its holdings in Emerson Electric Co. (NYSE:EMR) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 77,162 shares of the industrial products company’s stock after selling 1,492 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Emerson Electric were worth $9,563,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC increased its position in shares of Emerson Electric by 32.1% in the fourth quarter. Miracle Mile Advisors LLC now owns 18,376 shares of the industrial products company’s stock worth $2,277,000 after acquiring an additional 4,467 shares in the last quarter. Elevated Capital Advisors LLC grew its position in Emerson Electric by 26.7% during the 4th quarter. Elevated Capital Advisors LLC now owns 11,267 shares of the industrial products company’s stock worth $1,396,000 after purchasing an additional 2,371 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of Emerson Electric in the fourth quarter valued at $50,000. Bar Harbor Wealth Management grew its holdings in shares of Emerson Electric by 0.7% during the fourth quarter. Bar Harbor Wealth Management now owns 74,270 shares of the industrial products company’s stock valued at $9,204,000 after buying an additional 481 shares in the last quarter. Finally, Eastern Bank raised its position in Emerson Electric by 18.6% during the fourth quarter. Eastern Bank now owns 381,919 shares of the industrial products company’s stock valued at $47,331,000 after buying an additional 59,850 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Insider Activity

In related news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction dated 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 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 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EMR. UBS Group began coverage on Emerson Electric in a report on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 target price on the stock. Jefferies Financial Group assumed coverage on Emerson Electric in a report on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective for the company. Stephens downgraded Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. BNP Paribas began coverage on Emerson Electric in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Emerson Electric from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.84.

Emerson Electric Stock Performance

NYSE:EMR traded up $0.56 during mid-day trading on Monday, hitting $118.50. 2,254,642 shares of the company’s stock traded hands, compared to its average volume of 2,417,916. The firm has a market capitalization of $67.49 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.19 and a beta of 1.35. The firm has a 50 day moving average of $127.08 and a two-hundred day moving average of $114.87. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. Emerson Electric Co. has a 12 month low of $91.64 and a 12 month high of $134.85.

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 represents a $2.11 dividend on an annualized basis and a yield of 1.78%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is 61.70%.

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.