ICICI Prudential Asset Management Co Ltd Boosts Stock Holdings in Emerson Electric Co. (NYSE:EMR)

ICICI Prudential Asset Management Co Ltd grew its stake in shares of Emerson Electric Co. (NYSE:EMR) by 91.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,256 shares of the industrial products company’s stock after purchasing an additional 33,978 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Emerson Electric were worth $7,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Emerson Electric during the 3rd quarter worth about $25,000. Transcendent Capital Group LLC acquired a new stake in Emerson Electric in the 1st quarter valued at approximately $31,000. Meeder Asset Management Inc. boosted its position in shares of Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 235 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of Emerson Electric in the 3rd quarter worth $33,000. Finally, Versant Capital Management Inc grew its position in Emerson Electric by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.7 %

Shares of EMR traded up $2.24 during trading hours on Wednesday, hitting $130.64. The stock had a trading volume of 585,898 shares, compared to its average volume of 2,725,485. The firm has a 50 day simple moving average of $109.40 and a 200-day simple moving average of $109.56. Emerson Electric Co. has a 1-year low of $87.17 and a 1-year high of $131.05. 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 $74.82 billion, a P/E ratio of 38.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.30.

Emerson Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.62%. 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. Emerson Electric’s payout ratio is 61.40%.

Wall Street Analyst Weigh In

EMR has been the topic of several research analyst reports. JPMorgan Chase & Co. cut shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Barclays upped their target price on shares of Emerson Electric from $103.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price target on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $135.00 to $120.00 in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a report 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.00.

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Emerson Electric 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.