Camden National Bank Grows Position in Emerson Electric Co. (NYSE:EMR)

Camden National Bank increased its holdings in Emerson Electric Co. (NYSE:EMR) by 29.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,329 shares of the industrial products company’s stock after acquiring an additional 525 shares during the quarter. Camden National Bank’s holdings in Emerson Electric were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EMR. Newport Trust Company LLC purchased a new stake in Emerson Electric in the second quarter worth about $574,908,000. Pathway Financial Advisers LLC raised its holdings in Emerson Electric by 10,993.2% in the third quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock worth $226,443,000 after purchasing an additional 2,051,764 shares in the last quarter. Van ECK Associates Corp raised its holdings in Emerson Electric by 107.2% in the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock worth $422,852,000 after purchasing an additional 2,016,075 shares in the last quarter. Swedbank AB raised its holdings in Emerson Electric by 127.3% in the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after purchasing an additional 1,424,800 shares in the last quarter. Finally, Perpetual Ltd raised its holdings in Emerson Electric by 57,336.1% in the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock worth $131,918,000 after purchasing an additional 1,204,058 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EMR. BNP Paribas began coverage on shares of Emerson Electric in a report on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 target price for the company. UBS Group began coverage on shares of Emerson Electric in a report on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 target price for the company. Oppenheimer boosted their target price 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. KeyCorp upped their price objective on shares of Emerson Electric from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Emerson Electric from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One equities 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 data from MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and a consensus price target of $130.00.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $130.07 on Friday. Emerson Electric Co. has a twelve month low of $87.55 and a twelve month high of $131.56. The company’s 50 day moving average is $114.02 and its 200 day moving average is $110.77. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. The company has a market cap of $74.17 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.15 and a beta of 1.30.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is currently 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.