Laffer Tengler Investments Inc. grew its stake in Emerson Electric Co. (NYSE:EMR - Free Report) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,678 shares of the industrial products company's stock after acquiring an additional 4,618 shares during the period. Emerson Electric accounts for approximately 1.5% of Laffer Tengler Investments Inc.'s holdings, making the stock its 21st largest position. Laffer Tengler Investments Inc.'s holdings in Emerson Electric were worth $7,293,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of EMR. Jag Capital Management LLC increased its holdings in shares of Emerson Electric by 9.0% during the 3rd quarter. Jag Capital Management LLC now owns 3,709 shares of the industrial products company's stock worth $406,000 after acquiring an additional 307 shares during the last quarter. Proffitt & Goodson Inc. raised its position in shares of Emerson Electric by 2.3% in the third quarter. Proffitt & Goodson Inc. now owns 11,029 shares of the industrial products company's stock valued at $1,206,000 after buying an additional 244 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Emerson Electric in the third quarter valued at approximately $65,000. Ashton Thomas Securities LLC acquired a new stake in Emerson Electric during the third quarter worth approximately $111,000. Finally, Crossmark Global Holdings Inc. raised its holdings in Emerson Electric by 13.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 167,557 shares of the industrial products company's stock valued at $18,326,000 after acquiring an additional 19,763 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Michael H. Train sold 21,525 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the transaction, the senior vice president now directly owns 262,408 shares in the company, valued at approximately $33,052,911.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company's stock.
A number of brokerages recently commented on EMR. Wells Fargo & Company raised their price target on Emerson Electric from $128.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Stephens lowered shares of Emerson Electric from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an "underweight" rating and a $105.00 target price on the stock. Finally, Oppenheimer raised their target price on Emerson Electric from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $127.65.
Read Our Latest Research Report on Emerson Electric
EMR stock traded up $0.75 during midday trading on Monday, reaching $128.01. 241,182 shares of the company's stock traded hands, compared to its average volume of 2,720,973. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 2.13 and a beta of 1.30. The firm's fifty day moving average price is $108.39 and its 200-day moving average price is $109.30. Emerson Electric Co. has a 52 week low of $85.91 and a 52 week high of $128.56. The company has a quick ratio of 0.86, a current ratio of 1.77 and a debt-to-equity ratio of 0.26.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.5275 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.65%. This is an increase from Emerson Electric's previous quarterly dividend of $0.53. Emerson Electric's dividend payout ratio is 61.40%.
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.
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