Grimes & Company Inc. Has $2.01 Million Holdings in Emerson Electric Co. (NYSE:EMR)

Grimes & Company Inc. trimmed its holdings in Emerson Electric Co. (NYSE:EMR) by 4.2% in the fourth quarter, Holdings Channel reports. The fund owned 16,241 shares of the industrial products company’s stock after selling 706 shares during the period. Grimes & Company Inc.’s holdings in Emerson Electric were worth $2,013,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Emerson Electric during the 3rd quarter worth about $25,000. Sugar Maple Asset Management LLC acquired a new position in shares of Emerson Electric during the fourth quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in Emerson Electric in the 3rd quarter valued at approximately $29,000. Morton Brown Family Wealth LLC bought a new stake in Emerson Electric in the 3rd quarter valued at approximately $33,000. Finally, Frazier Financial Advisors LLC acquired a new position in Emerson Electric during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EMR shares. Jefferies Financial Group initiated coverage on shares of Emerson Electric in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. Stephens cut shares of 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 report on Wednesday, October 16th. BNP Paribas assumed coverage on Emerson Electric in a report on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 price objective for the company. KeyCorp raised their price target on Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.89.

Emerson Electric Price Performance

Emerson Electric stock opened at $130.62 on Friday. The stock’s 50 day moving average is $127.10 and its 200-day moving average is $115.91. The company has a market capitalization of $74.39 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.22 and a beta of 1.35. Emerson Electric Co. has a 12 month low of $91.64 and a 12 month high of $134.85. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Friday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is presently 61.70%.

Insider Activity at Emerson Electric

In other news, SVP Michael H. Train sold 21,525 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.