Cornerstone Advisors LLC Purchases 1,000 Shares of Emerson Electric Co. (NYSE:EMR)

Cornerstone Advisors LLC raised its holdings in Emerson Electric Co. (NYSE:EMR) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 44,000 shares of the industrial products company’s stock after acquiring an additional 1,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in Emerson Electric were worth $4,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of Emerson Electric by 55.0% during the second quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock valued at $931,000 after acquiring an additional 3,060 shares during the last quarter. Bank of Montreal Can grew its position in Emerson Electric by 17.0% during the 2nd quarter. Bank of Montreal Can now owns 1,339,301 shares of the industrial products company’s stock valued at $152,359,000 after purchasing an additional 194,944 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Emerson Electric by 8.5% in the third quarter. Dynamic Advisor Solutions LLC now owns 69,285 shares of the industrial products company’s stock worth $7,578,000 after buying an additional 5,416 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Emerson Electric by 82.0% during the third quarter. V Square Quantitative Management LLC now owns 3,977 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 1,792 shares in the last quarter. Finally, Proactive Wealth Strategies LLC purchased a new position in shares of Emerson Electric in the third quarter worth $443,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Emerson Electric

In related news, SVP Michael H. Train sold 21,525 shares of the company’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 value of $2,711,289.00. Following the sale, 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 hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

EMR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays upped their target price on Emerson Electric from $103.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Stephens cut Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $135.00 to $120.00 in a research report on Wednesday, October 16th. Morgan Stanley started coverage on Emerson Electric in a research report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective for the company. Finally, StockNews.com raised shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

Emerson Electric Stock Performance

NYSE EMR opened at $129.10 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. Emerson Electric Co. has a 1-year low of $87.55 and a 1-year high of $131.56. The company has a market cap of $73.61 billion, a P/E ratio of 37.75, a P/E/G ratio of 2.17 and a beta of 1.30. The stock has a 50-day moving average of $112.92 and a two-hundred day moving average of $110.45.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.5275 per share. The ex-dividend date is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is 61.70%.

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.