Payden & Rygel Sells 57,600 Shares of Emerson Electric Co. (NYSE:EMR)

Payden & Rygel decreased its position in Emerson Electric Co. (NYSE:EMR) by 31.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,900 shares of the industrial products company’s stock after selling 57,600 shares during the quarter. Payden & Rygel’s holdings in Emerson Electric were worth $13,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EMR. Newport Trust Company LLC acquired a new position in shares of Emerson Electric during the second quarter worth approximately $574,908,000. Pathway Financial Advisers LLC raised its stake in Emerson Electric by 10,993.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock valued at $226,443,000 after purchasing an additional 2,051,764 shares during the last quarter. Van ECK Associates Corp grew its position in Emerson Electric by 107.2% in the 3rd 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 last quarter. Swedbank AB increased its holdings in shares of Emerson Electric by 127.3% during the 3rd 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. Finally, Perpetual Ltd lifted its stake in shares of Emerson Electric by 57,336.1% in the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock valued at $131,918,000 after buying an additional 1,204,058 shares during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Stock Performance

Shares of NYSE:EMR opened at $129.10 on Thursday. The business has a fifty day moving average of $112.92 and a 200-day moving average of $110.45. The firm has a market cap of $73.61 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 1.77. Emerson Electric Co. has a twelve month low of $87.55 and a twelve month high of $131.56.

Emerson Electric Increases Dividend

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

Insider Activity

In other news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 262,408 shares of the company’s stock, valued at $33,052,911.68. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BNP Paribas assumed coverage on Emerson Electric in a research note on Wednesday, November 13th. They set an “outperform” rating and a $155.00 price target on the stock. Robert W. Baird upped their target price on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. KeyCorp lifted their price target on shares of Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. UBS Group assumed coverage on shares of Emerson Electric in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. 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. According to MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

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.