Payden & Rygel Has $13.88 Million Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Payden & Rygel lowered its stake in Emerson Electric Co. (NYSE:EMR) by 31.2% during the third quarter, HoldingsChannel.com reports. The firm owned 126,900 shares of the industrial products company’s stock after selling 57,600 shares during the period. Payden & Rygel’s holdings in Emerson Electric were worth $13,879,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Thrive Wealth Management LLC raised its position in Emerson Electric by 4.1% during the second quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 91 shares in the last quarter. LCM Capital Management Inc raised its holdings in shares of Emerson Electric by 1.4% during the 2nd quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock worth $748,000 after buying an additional 91 shares in the last quarter. Sabal Trust CO lifted its position in shares of Emerson Electric by 2.2% during the 2nd quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock worth $475,000 after buying an additional 93 shares during the last quarter. Catalyst Financial Partners LLC grew its position in Emerson Electric by 3.7% in the second quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 94 shares during the last quarter. Finally, Unison Advisors LLC raised its stake in Emerson Electric by 0.5% during the second quarter. Unison Advisors LLC now owns 21,016 shares of the industrial products company’s stock worth $2,315,000 after acquiring an additional 96 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction on 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 transaction, the senior vice president now directly owns 262,408 shares of the company’s stock, valued at $33,052,911.68. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on EMR. Royal Bank of Canada decreased their price target on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Barclays upped their price target on shares of Emerson Electric from $103.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Robert W. Baird upped their target price on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, UBS Group initiated coverage on Emerson Electric in a report on Wednesday, November 13th. They set a “neutral” rating and a $135.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

Emerson Electric Price Performance

EMR stock opened at $129.10 on Thursday. 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’s fifty day simple moving average is $112.92 and its 200 day simple moving average is $110.45. Emerson Electric Co. has a 12-month low of $87.55 and a 12-month high of $131.56. The firm has a market cap of $73.61 billion, a price-to-earnings ratio of 37.75, a PEG ratio of 2.13 and a beta of 1.30.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.5275 per share. 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. This represents a $2.11 annualized dividend and a dividend yield of 1.63%. Emerson Electric’s dividend payout ratio 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.