Emerson Electric Co. (NYSE:EMR) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department lowered its stake in Emerson Electric Co. (NYSE:EMR) by 7.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,366 shares of the industrial products company’s stock after selling 965 shares during the quarter. Mechanics Bank Trust Department’s holdings in Emerson Electric were worth $1,533,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EMR. Capital Performance Advisors LLP acquired a new position in Emerson Electric during the third quarter worth $25,000. Darwin Wealth Management LLC purchased a new stake in Emerson Electric during the third quarter worth about $29,000. Frazier Financial Advisors LLC purchased a new position in shares of Emerson Electric in the third quarter valued at approximately $33,000. Morton Brown Family Wealth LLC acquired a new position in shares of Emerson Electric in the third quarter valued at approximately $33,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Emerson Electric during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Up 1.1 %

Emerson Electric stock opened at $124.65 on Monday. 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 stock has a 50 day moving average of $127.05 and a two-hundred day moving average of $115.27. Emerson Electric Co. has a twelve month low of $91.64 and a twelve month high of $134.85. The stock has a market capitalization of $70.99 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 1.98 and a beta of 1.35.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio (DPR) is 61.70%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EMR. KeyCorp boosted their target price on Emerson Electric from $140.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Wells Fargo & Company lowered their price target on shares of Emerson Electric from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada decreased their price objective on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird upped their price objective on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, UBS Group initiated coverage on Emerson Electric in a research note on Wednesday, November 13th. They set a “neutral” rating and a $135.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.89.

Insider Activity at Emerson Electric

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total value of $2,711,289.00. Following the completion of the sale, the senior vice president now owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

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.