Maverick Capital Ltd. trimmed its holdings in Emerson Electric Co. (NYSE:EMR – Free Report) by 89.9% during the third quarter, Holdings Channel reports. The institutional investor owned 2,596 shares of the industrial products company’s stock after selling 23,173 shares during the period. Maverick Capital Ltd.’s holdings in Emerson Electric were worth $284,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Edgestream Partners L.P. acquired a new stake in Emerson Electric in the 3rd quarter worth about $3,749,000. Acropolis Investment Management LLC raised its holdings in shares of Emerson Electric by 2.0% in the 3rd quarter. Acropolis Investment Management LLC now owns 5,399 shares of the industrial products company’s stock worth $590,000 after purchasing an additional 107 shares during the period. TRUE Private Wealth Advisors raised its holdings in shares of Emerson Electric by 1.5% in the 3rd quarter. TRUE Private Wealth Advisors now owns 37,679 shares of the industrial products company’s stock worth $4,121,000 after purchasing an additional 560 shares during the period. Icon Wealth Advisors LLC raised its holdings in shares of Emerson Electric by 6.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 4,092 shares of the industrial products company’s stock worth $448,000 after purchasing an additional 251 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Emerson Electric by 4.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 754,701 shares of the industrial products company’s stock worth $82,548,000 after purchasing an additional 35,064 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Emerson Electric
In related news, SVP Michael H. Train sold 21,525 shares of the business’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 in the company, valued at $33,052,911.68. The trade was a 7.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on EMR
Emerson Electric Price Performance
Shares of EMR opened at $132.60 on Monday. The firm has a market cap of $75.61 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 2.23 and a beta of 1.30. The stock has a 50 day moving average of $116.88 and a 200-day moving average of $111.38. 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 52 week low of $87.59 and a 52 week high of $134.17.
Emerson Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is currently 61.70%.
Emerson Electric 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.
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