Providence Wealth Advisors LLC Acquires 115 Shares of Emerson Electric Co. (NYSE:EMR)

Providence Wealth Advisors LLC raised its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,157 shares of the industrial products company’s stock after acquiring an additional 115 shares during the period. Providence Wealth Advisors LLC’s holdings in Emerson Electric were worth $996,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EMR. Thrive Wealth Management LLC lifted its position in shares of Emerson Electric by 4.1% during the 2nd quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock valued at $255,000 after buying an additional 91 shares in the last quarter. LCM Capital Management Inc lifted its holdings in Emerson Electric by 1.4% in the 2nd quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 91 shares in the last quarter. Sabal Trust CO lifted its holdings in Emerson Electric by 2.2% in the 2nd quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 93 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in Emerson Electric by 3.7% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 94 shares in the last quarter. Finally, Unison Advisors LLC lifted its holdings in Emerson Electric by 0.5% in the 2nd quarter. Unison Advisors LLC now owns 21,016 shares of the industrial products company’s stock worth $2,315,000 after purchasing an additional 96 shares in 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 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 transaction, the senior vice president now owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This represents 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.

Emerson Electric Stock Performance

EMR stock opened at $132.59 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $116.33 and its two-hundred day simple moving average is $111.30. Emerson Electric Co. has a twelve month low of $87.55 and a twelve month high of $134.17. The firm has a market cap of $75.60 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 2.23 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. Shareholders of record on Friday, November 15th will be paid a $0.5275 dividend. 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. This represents a $2.11 dividend on an annualized basis and a yield of 1.59%. Emerson Electric’s dividend payout ratio (DPR) is presently 61.70%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EMR shares. KeyCorp lifted their price objective on Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Stephens downgraded Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, StockNews.com raised Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.