Emerson Electric Co. (NYSE:EMR) Sees Significant Growth in Short Interest

Emerson Electric Co. (NYSE:EMR) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 9,290,000 shares, an increase of 7.6% from the October 15th total of 8,630,000 shares. Based on an average daily trading volume, of 2,840,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.6% of the company’s stock are sold short.

Insider Activity at Emerson Electric

In related news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the sale, the senior vice president now owns 262,408 shares in the company, valued at $33,052,911.68. This 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 is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Emerson Electric

Several hedge funds have recently bought and sold shares of EMR. Farther Finance Advisors LLC boosted its holdings in shares of Emerson Electric by 55.0% during the second quarter. Farther Finance Advisors LLC now owns 8,619 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 3,060 shares during the period. Bank of Montreal Can increased its stake in shares of Emerson Electric by 17.0% in the second quarter. Bank of Montreal Can now owns 1,339,301 shares of the industrial products company’s stock worth $152,359,000 after acquiring an additional 194,944 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of Emerson Electric by 8.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 69,285 shares of the industrial products company’s stock worth $7,578,000 after acquiring an additional 5,416 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Emerson Electric by 82.0% in the third quarter. V Square Quantitative Management LLC now owns 3,977 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 1,792 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its position in Emerson Electric by 223.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 16,004 shares of the industrial products company’s stock worth $1,815,000 after purchasing an additional 11,063 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 0.9 %

Shares of Emerson Electric stock traded down $1.14 during trading on Tuesday, hitting $128.02. The stock had a trading volume of 325,052 shares, compared to its average volume of 2,733,802. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $73.00 billion, a PE ratio of 37.78, a P/E/G ratio of 2.13 and a beta of 1.30. Emerson Electric has a 1 year low of $87.55 and a 1 year high of $131.56. The stock has a 50 day simple moving average of $111.73 and a 200 day simple moving average of $110.16.

Emerson Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.5275 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.65%. Emerson Electric’s payout ratio is currently 61.70%.

Analyst Upgrades and Downgrades

EMR has been the subject of several analyst reports. KeyCorp boosted their price target on shares of Emerson Electric from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. Morgan Stanley assumed coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective for the company. Barclays lifted their target price on Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Finally, UBS Group assumed coverage on Emerson Electric in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 price target for the company. 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.00.

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.