Victory Capital Management Inc. Boosts Stake in Emerson Electric Co. (NYSE:EMR)

Victory Capital Management Inc. raised its position in Emerson Electric Co. (NYSE:EMR) by 13.3% during the third quarter, HoldingsChannel.com reports. The firm owned 288,443 shares of the industrial products company’s stock after buying an additional 33,908 shares during the quarter. Victory Capital Management Inc.’s holdings in Emerson Electric were worth $31,547,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EMR. Capital Performance Advisors LLP acquired a new position in Emerson Electric during the third quarter valued at approximately $25,000. Transcendent Capital Group LLC acquired a new stake in Emerson Electric in the 1st quarter valued at $31,000. Meeder Asset Management Inc. raised its position in Emerson Electric by 361.5% in 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 during the period. Morton Brown Family Wealth LLC acquired a new position in shares of Emerson Electric during the third quarter worth about $33,000. Finally, Versant Capital Management Inc grew its stake in shares of Emerson Electric by 471.9% in the second quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock valued at $36,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Trading Down 1.3 %

Shares of EMR stock opened at $126.78 on Friday. The firm has a market capitalization of $72.29 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. 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 1 year low of $87.17 and a 1 year high of $131.56. The stock has a fifty day moving average of $111.14 and a two-hundred day moving average of $109.96.

Emerson Electric Increases Dividend

The business 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 $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is currently 61.70%.

Analysts Set New Price Targets

A number of research firms have weighed in on EMR. Robert W. Baird upped their price target on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. BNP Paribas initiated coverage on shares of Emerson Electric in a report on Wednesday. They set an “outperform” rating and a $155.00 price target for the company. Oppenheimer boosted their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Morgan Stanley initiated coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. Finally, UBS Group initiated coverage on Emerson Electric in a report on Wednesday. They issued a “neutral” rating and a $135.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

Insiders Place Their Bets

In related news, SVP Michael H. Train sold 21,525 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by 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.