OneAscent Financial Services LLC Takes Position in Emerson Electric Co. (NYSE:EMR)

OneAscent Financial Services LLC acquired a new stake in Emerson Electric Co. (NYSE:EMR) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 2,856 shares of the industrial products company’s stock, valued at approximately $312,000.

Several other institutional investors have also modified their holdings of the company. Newport Trust Company LLC acquired a new stake in shares of Emerson Electric in the second quarter valued at $574,908,000. Legal & General Group Plc raised its position in shares of Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock worth $496,877,000 after purchasing an additional 224,784 shares during the period. Van ECK Associates Corp raised its position in shares of Emerson Electric by 107.2% during 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 during the period. DekaBank Deutsche Girozentrale raised its position in shares of Emerson Electric by 3.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock worth $297,653,000 after purchasing an additional 88,294 shares during the period. Finally, Swedbank AB raised its position in shares of Emerson Electric by 127.3% during 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 during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $135.00 to $120.00 in a research report on Wednesday, October 16th. UBS Group assumed coverage on Emerson Electric in a research report on Wednesday, November 13th. They set a “neutral” rating and a $135.00 target price on the stock. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Barclays upped their price target on Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer upped their price target on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Emerson Electric currently has an average rating of “Moderate Buy” and a consensus target price of $130.00.

Insider Transactions at Emerson Electric

In other news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction dated 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 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Emerson Electric Stock Performance

Shares of EMR stock opened at $129.20 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. Emerson Electric Co. has a fifty-two week low of $87.55 and a fifty-two week high of $131.56. The stock’s 50-day moving average is $111.73 and its two-hundred day moving average is $110.16. The firm has a market cap of $73.67 billion, a P/E ratio of 37.78, a PEG ratio of 2.13 and a beta of 1.30.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is 61.70%.

Emerson Electric Company 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.