Meridian Investment Counsel Inc. Has $624,000 Position in Emerson Electric Co. (NYSE:EMR)

Meridian Investment Counsel Inc. decreased its stake in Emerson Electric Co. (NYSE:EMR) by 16.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,705 shares of the industrial products company’s stock after selling 1,135 shares during the period. Meridian Investment Counsel Inc.’s holdings in Emerson Electric were worth $624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Emerson Electric during the third quarter valued at $25,000. Transcendent Capital Group LLC bought a new stake in shares of Emerson Electric in the 1st quarter valued at about $31,000. Meeder Asset Management Inc. raised its position in shares of Emerson Electric by 361.5% during the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 235 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of Emerson Electric in the third quarter worth approximately $33,000. Finally, Versant Capital Management Inc boosted its holdings in Emerson Electric by 471.9% in the second quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 269 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EMR. StockNews.com upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their price target on Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 price objective on the stock. Royal Bank of Canada lowered their target price on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Oppenheimer increased their price target on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.00.

Insider Activity

In other news, SVP Michael H. Train sold 21,525 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $33,052,911.68. The trade was a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $126.78 on Friday. The firm has a market capitalization of $72.29 billion, a P/E ratio of 37.07, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. Emerson Electric Co. has a 12 month low of $87.17 and a 12 month high of $131.56. 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 business’s fifty day simple moving average is $111.14 and its 200 day simple moving average is $109.96.

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 is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.66%. Emerson Electric’s 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.