CIBC Asset Management Inc Grows Position in Emerson Electric Co. (NYSE:EMR)

CIBC Asset Management Inc raised its position in Emerson Electric Co. (NYSE:EMR) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,294 shares of the industrial products company’s stock after buying an additional 10,164 shares during the quarter. CIBC Asset Management Inc’s holdings in Emerson Electric were worth $12,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of EMR. Newport Trust Company LLC acquired a new stake in Emerson Electric during the 2nd quarter worth $574,908,000. Pathway Financial Advisers LLC lifted its holdings in shares of Emerson Electric by 10,993.2% in 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 buying an additional 2,051,764 shares during the period. Van ECK Associates Corp boosted its position in shares of Emerson Electric by 107.2% during 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 in the last quarter. Swedbank AB grew its position in 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 buying an additional 1,424,800 shares during the period. Finally, Perpetual Ltd increased its position 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 in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

NYSE:EMR opened at $126.78 on Friday. The company has a market capitalization of $72.29 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 2.18 and a beta of 1.30. The company has a 50-day moving average of $111.14 and a 200-day moving average of $109.98. Emerson Electric Co. has a 52 week low of $87.17 and a 52 week high of $131.56. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.5275 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.66%. Emerson Electric’s dividend payout ratio (DPR) is 61.70%.

Wall Street Analyst Weigh In

EMR has been the subject of several research reports. KeyCorp lifted their price objective on Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. BNP Paribas started coverage on Emerson Electric in a research note on Wednesday. They issued an “outperform” rating and a $155.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $130.00.

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 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 transaction, the senior vice president now owns 262,408 shares in the company, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

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.