Emerson Electric Co. (NYSE:EMR) Sees Large Increase in Short Interest

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

Emerson Electric Trading Down 0.1 %

NYSE:EMR opened at $129.01 on Tuesday. The stock has a fifty day simple moving average of $111.73 and a 200 day simple moving average of $110.16. The firm has a market capitalization of $73.56 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth 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 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.5275 dividend. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, November 15th. Emerson Electric’s dividend payout ratio (DPR) is 61.70%.

Wall Street Analysts Forecast Growth

EMR has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on shares of Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Barclays boosted their target price on shares of Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group began coverage on Emerson Electric in a research report on Wednesday, November 13th. They set a “neutral” rating and a $135.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Oppenheimer lifted their target price on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One equities 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 MarketBeat, Emerson Electric has a consensus rating of “Moderate Buy” and an average target price of $130.00.

Insider Transactions at Emerson Electric

In other news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction dated 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 in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Emerson Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Emerson Electric by 6.2% during the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock valued at $2,822,858,000 after buying an additional 1,507,980 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Emerson Electric by 4.2% in the third quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company’s stock worth $1,591,612,000 after purchasing an additional 581,102 shares in the last quarter. Geode Capital Management LLC grew its position in Emerson Electric by 1.4% during the third quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock valued at $1,247,570,000 after purchasing an additional 162,985 shares in the last quarter. Newport Trust Company LLC acquired a new position in Emerson Electric in the 2nd quarter valued at approximately $574,908,000. Finally, Legal & General Group Plc lifted its position 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 worth $496,877,000 after buying an additional 224,784 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

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.