Massachusetts Financial Services Co. MA Has $22.07 Million Position in Emerson Electric Co. (NYSE:EMR)

Massachusetts Financial Services Co. MA cut its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,776 shares of the industrial products company’s stock after selling 8,022 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Emerson Electric were worth $22,068,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Newport Trust Company LLC acquired a new position in shares of Emerson Electric during the 2nd quarter worth approximately $574,908,000. Legal & General Group Plc grew its holdings in Emerson Electric by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after buying an additional 224,784 shares in the last quarter. Van ECK Associates Corp increased its position in 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 buying an additional 2,016,075 shares during the period. DekaBank Deutsche Girozentrale increased its position in Emerson Electric by 3.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock worth $297,653,000 after buying an additional 88,294 shares during the period. Finally, Swedbank AB increased its position in 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 buying an additional 1,424,800 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Michael H. Train sold 21,525 shares of Emerson Electric 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 sale, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EMR. Royal Bank of Canada lowered their price objective on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer increased their price objective on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. StockNews.com upgraded Emerson Electric from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley began coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective on the stock. Finally, Robert W. Baird increased 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.00.

Emerson Electric Stock Performance

NYSE:EMR opened at $132.79 on Tuesday. The stock’s 50-day simple moving average is $114.63 and its 200 day simple moving average is $110.88. Emerson Electric Co. has a twelve month low of $87.55 and a twelve month high of $133.54. The firm has a market capitalization of $75.72 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26.

Emerson Electric Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 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.