Emerson Electric Co. (NYSE:EMR) Shares Sold by Maverick Capital Ltd.

Maverick Capital Ltd. trimmed its holdings in Emerson Electric Co. (NYSE:EMR) 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

A number of research firms have recently commented on EMR. Deutsche Bank Aktiengesellschaft raised their price objective on Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley began coverage on Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. KeyCorp raised their price objective on Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their target price on Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their target price on 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, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.00.

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.