Commerce Bank Cuts Stock Position in Emerson Electric Co. (NYSE:EMR)

Commerce Bank trimmed its stake in Emerson Electric Co. (NYSE:EMR) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 677,922 shares of the industrial products company’s stock after selling 22,321 shares during the quarter. Commerce Bank’s holdings in Emerson Electric were worth $74,144,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Newport Trust Company LLC bought a new position in Emerson Electric in the 2nd quarter worth about $574,908,000. Legal & General Group Plc lifted its stake in shares of Emerson Electric by 5.2% in the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after buying an additional 224,784 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Emerson Electric by 107.2% during the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock valued at $422,852,000 after buying an additional 2,016,075 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Emerson Electric by 3.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock worth $297,653,000 after acquiring an additional 88,294 shares during the last quarter. Finally, Swedbank AB lifted its position in Emerson Electric by 127.3% in the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after acquiring an additional 1,424,800 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Emerson Electric 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 completion of the transaction, the senior vice president now directly owns 262,408 shares in the company, valued at $33,052,911.68. This represents a 7.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

Emerson Electric Price Performance

NYSE EMR opened at $129.56 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. Emerson Electric Co. has a 12 month low of $87.55 and a 12 month high of $131.56. The stock has a market cap of $73.88 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 2.13 and a beta of 1.30. The company’s 50 day moving average is $112.34 and its two-hundred day moving average is $110.32.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. 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%. Emerson Electric’s payout ratio is 61.70%.

Wall Street Analysts Forecast Growth

EMR has been the subject of several recent analyst reports. UBS Group started coverage on Emerson Electric in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 price target for the company. Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. BNP Paribas started coverage on Emerson Electric in a report on Wednesday, November 13th. They set an “outperform” rating and a $155.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.00.

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.