Eagle Asset Management Inc. Has $61.62 Million Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Eagle Asset Management Inc. reduced its holdings in Emerson Electric Co. (NYSE:EMR) by 3.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 563,387 shares of the industrial products company’s stock after selling 18,013 shares during the period. Eagle Asset Management Inc.’s holdings in Emerson Electric were worth $61,618,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EMR. Edgestream Partners L.P. bought a new stake in shares of Emerson Electric during the 1st quarter valued at about $311,000. Bessemer Group Inc. boosted its holdings in shares of Emerson Electric by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 18,576 shares of the industrial products company’s stock worth $2,107,000 after buying an additional 1,838 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Emerson Electric during the 1st quarter worth approximately $605,000. Quadrature Capital Ltd increased its stake in shares of Emerson Electric by 30.5% in the 1st quarter. Quadrature Capital Ltd now owns 83,492 shares of the industrial products company’s stock valued at $9,468,000 after acquiring an additional 19,537 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Emerson Electric by 311.3% during the first quarter. 1832 Asset Management L.P. now owns 239,626 shares of the industrial products company’s stock worth $27,178,000 after acquiring an additional 181,371 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR opened at $128.38 on Friday. Emerson Electric Co. has a one year low of $87.55 and a one year high of $131.56. The business has a fifty day moving average of $113.46 and a 200 day moving average of $110.58. 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 firm has a market capitalization of $73.20 billion, a P/E ratio of 37.54, a PEG ratio of 2.17 and a beta of 1.30.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.64%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric’s payout ratio is 61.70%.

Insiders Place Their Bets

In related news, SVP Michael H. Train sold 21,525 shares of Emerson Electric 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 approximately $33,052,911.68. The trade was a 7.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EMR. Oppenheimer upped their price target on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price on Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price target on shares of Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Barclays lifted their price objective on shares of Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. 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 stock. According to MarketBeat.com, Emerson Electric presently has an average rating of “Moderate Buy” and an average price target of $130.00.

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.