Birmingham Capital Management Co. Inc. AL Cuts Stock Position in Emerson Electric Co. (NYSE:EMR)

Birmingham Capital Management Co. Inc. AL lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 70,631 shares of the industrial products company’s stock after selling 430 shares during the quarter. Emerson Electric accounts for approximately 2.8% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 9th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Emerson Electric were worth $7,725,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Logan Capital Management Inc. grew its stake in Emerson Electric by 0.6% in the third quarter. Logan Capital Management Inc. now owns 45,770 shares of the industrial products company’s stock valued at $5,006,000 after acquiring an additional 260 shares during the period. Old North State Trust LLC bought a new position in shares of Emerson Electric in the 3rd quarter worth $212,000. Franklin Resources Inc. grew its position in Emerson Electric by 3.2% in the 3rd quarter. Franklin Resources Inc. now owns 586,319 shares of the industrial products company’s stock valued at $66,043,000 after purchasing an additional 17,913 shares during the period. Tidal Investments LLC increased its stake in Emerson Electric by 12.0% during the 3rd quarter. Tidal Investments LLC now owns 27,491 shares of the industrial products company’s stock valued at $3,007,000 after purchasing an additional 2,937 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Emerson Electric by 120.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 56,341 shares of the industrial products company’s stock valued at $6,162,000 after buying an additional 30,741 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

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 value of $2,711,289.00. Following the completion of the transaction, the senior vice president now directly owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR traded down $0.15 during mid-day trading on Friday, hitting $131.01. The stock had a trading volume of 307,117 shares, compared to its average volume of 2,732,839. Emerson Electric Co. has a 52 week low of $91.64 and a 52 week high of $134.85. 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 business has a fifty day moving average price of $121.17 and a 200-day moving average price of $112.56. The firm has a market cap of $74.61 billion, a P/E ratio of 38.35, a PEG ratio of 2.20 and a beta of 1.34.

Emerson Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a dividend of $0.5275 per share. The ex-dividend date was Friday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a yield of 1.61%. Emerson Electric’s dividend payout ratio is 61.70%.

Wall Street Analysts Forecast Growth

EMR has been the topic of a number of analyst reports. Morgan Stanley began coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price on the stock. KeyCorp raised their target price on Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a report on Monday. 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. StockNews.com upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research note on Sunday, December 8th. Finally, Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $135.00 to $120.00 in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric has a consensus rating of “Moderate Buy” and a consensus target price of $134.58.

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.