Griffin Asset Management Inc. Has $2.35 Million Stock Position in Emerson Electric Co. (NYSE:EMR)

Griffin Asset Management Inc. lessened its position in Emerson Electric Co. (NYSE:EMR) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 18,919 shares of the industrial products company’s stock after selling 403 shares during the period. Griffin Asset Management Inc.’s holdings in Emerson Electric were worth $2,345,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Emerson Electric during the third quarter valued at about $25,000. Sugar Maple Asset Management LLC bought a new stake in Emerson Electric during the 4th quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Emerson Electric in the third quarter worth approximately $29,000. Morton Brown Family Wealth LLC purchased a new position in shares of Emerson Electric during the third quarter valued at approximately $33,000. Finally, Frazier Financial Advisors LLC purchased a new position in Emerson Electric during the 3rd quarter worth $33,000. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EMR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Emerson Electric from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. BNP Paribas initiated coverage on Emerson Electric in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 price objective on the stock. Stephens cut Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. KeyCorp upped their price target on Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Robert W. Baird boosted their price objective on shares of Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.89.

Emerson Electric Trading Down 1.3 %

Shares of EMR opened at $128.89 on Tuesday. The firm has a fifty day simple moving average of $127.10 and a two-hundred day simple moving average of $115.98. Emerson Electric Co. has a twelve month low of $91.64 and a twelve month high of $134.85. The stock has a market capitalization of $73.41 billion, a P/E ratio of 37.69, a PEG ratio of 2.22 and a beta of 1.35. 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 was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a dividend of $0.5275 per share. The ex-dividend date was Friday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a dividend yield of 1.64%. Emerson Electric’s payout ratio is 61.70%.

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 stock was sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the completion of the transaction, the senior vice president now owns 262,408 shares of the company’s stock, valued at $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 available at this hyperlink. Company insiders own 0.50% of the company’s stock.

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.