Summit Asset Management LLC Acquires 2,124 Shares of Emerson Electric Co. (NYSE:EMR)

Summit Asset Management LLC increased its stake in Emerson Electric Co. (NYSE:EMR) by 20.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,451 shares of the industrial products company’s stock after purchasing an additional 2,124 shares during the quarter. Summit Asset Management LLC’s holdings in Emerson Electric were worth $1,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Emerson Electric in the third quarter worth about $25,000. Transcendent Capital Group LLC bought a new position in shares of Emerson Electric during the 1st quarter valued at approximately $31,000. Meeder Asset Management Inc. raised its stake in Emerson Electric by 361.5% during the second 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 bought a new position in Emerson Electric during the third quarter valued at $33,000. Finally, Versant Capital Management Inc increased its holdings in shares of Emerson Electric by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock worth $36,000 after buying an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.4 %

EMR stock opened at $130.16 on Thursday. The stock has a market capitalization of $74.54 billion, a P/E ratio of 38.06, a P/E/G ratio of 2.16 and a beta of 1.30. Emerson Electric Co. has a 52 week low of $87.17 and a 52 week high of $131.56. The firm has a 50-day simple moving average of $109.40 and a 200-day simple moving average of $109.56. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26.

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 dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost 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 analyst reports. KeyCorp upped their price target on shares of Emerson Electric from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of 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 research report on Wednesday, August 14th. BNP Paribas began coverage on Emerson Electric in a research note on Wednesday. They issued an “outperform” rating and a $155.00 price objective on the stock. Finally, Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. 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 MarketBeat, Emerson Electric has a consensus rating of “Moderate Buy” and an average target price of $130.00.

Insider Transactions at Emerson Electric

In related news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total value of $2,711,289.00. Following the completion of the sale, the senior vice president now owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

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.