Mengis Capital Management Inc. Sells 4,922 Shares of Emerson Electric Co. (NYSE:EMR)

Mengis Capital Management Inc. cut its holdings in Emerson Electric Co. (NYSE:EMR) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,787 shares of the industrial products company’s stock after selling 4,922 shares during the quarter. Mengis Capital Management Inc.’s holdings in Emerson Electric were worth $4,023,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EMR. State Board of Administration of Florida Retirement System grew its holdings in Emerson Electric by 10.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 671,736 shares of the industrial products company’s stock worth $76,188,000 after purchasing an additional 65,507 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Emerson Electric by 17.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 788,994 shares of the industrial products company’s stock worth $89,488,000 after purchasing an additional 117,330 shares during the period. Kingsview Wealth Management LLC raised its position in shares of Emerson Electric by 11.9% in the first quarter. Kingsview Wealth Management LLC now owns 69,615 shares of the industrial products company’s stock valued at $7,896,000 after buying an additional 7,418 shares in the last quarter. Zevin Asset Management LLC grew its position in Emerson Electric by 3.4% during the first quarter. Zevin Asset Management LLC now owns 139,441 shares of the industrial products company’s stock worth $15,815,000 after buying an additional 4,532 shares in the last quarter. Finally, Maple Capital Management Inc. bought a new position in Emerson Electric during the 1st quarter worth $202,000. Institutional investors own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EMR shares. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. BNP Paribas initiated coverage on shares of Emerson Electric in a report on Wednesday. They issued an “outperform” rating and a $155.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.17.

Emerson Electric Stock Performance

NYSE:EMR opened at $128.42 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 1.77. Emerson Electric Co. has a fifty-two week low of $85.91 and a fifty-two week high of $130.30. The company has a 50 day simple moving average of $109.40 and a two-hundred day simple moving average of $109.56. The company has a market capitalization of $73.55 billion, a PE ratio of 37.55, a P/E/G ratio of 2.17 and a beta of 1.30.

Emerson Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.5275 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a dividend yield of 1.64%. Emerson Electric’s dividend payout ratio (DPR) is 61.40%.

Insiders Place Their Bets

In related news, SVP Michael H. Train sold 21,525 shares of the business’s stock in a transaction 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 owns 262,408 shares in the company, valued at $33,052,911.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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.