STAR Financial Bank Reduces Position in Emerson Electric Co. (NYSE:EMR)

STAR Financial Bank lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,706 shares of the industrial products company’s stock after selling 596 shares during the period. STAR Financial Bank’s holdings in Emerson Electric were worth $515,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EMR. Edgestream Partners L.P. bought a new position in shares of Emerson Electric in the 1st quarter worth about $311,000. Bessemer Group Inc. grew its position in Emerson Electric by 11.0% in the 1st quarter. Bessemer Group Inc. now owns 18,576 shares of the industrial products company’s stock worth $2,107,000 after purchasing an additional 1,838 shares during the period. CreativeOne Wealth LLC bought a new position in Emerson Electric in the first quarter valued at about $605,000. Axxcess Wealth Management LLC boosted its holdings in shares of Emerson Electric by 12.6% in the first quarter. Axxcess Wealth Management LLC now owns 44,756 shares of the industrial products company’s stock worth $5,076,000 after buying an additional 4,999 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Emerson Electric by 16.0% during the 1st quarter. Advisors Asset Management Inc. now owns 75,515 shares of the industrial products company’s stock worth $8,565,000 after acquiring an additional 10,442 shares during 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 sale, the senior vice president now owns 262,408 shares in the company, valued at approximately $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 accessible through this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. KeyCorp upped their price target on Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. StockNews.com upgraded Emerson Electric from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Oppenheimer upped their price target 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. Finally, Royal Bank of Canada dropped their target price on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.00.

Emerson Electric Trading Down 0.4 %

NYSE EMR opened at $129.10 on Thursday. The company has a fifty day moving average of $112.92 and a 200 day moving average of $110.45. The company has a market capitalization of $73.61 billion, a PE ratio of 37.75, a P/E/G ratio of 2.17 and a beta of 1.30. 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.

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.5275 dividend. This is an increase 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 dividend payout ratio is presently 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.