Morse Asset Management Inc Takes Position in Emerson Electric Co. (NYSE:EMR)

Morse Asset Management Inc acquired a new stake in shares of Emerson Electric Co. (NYSE:EMR) in the third quarter, HoldingsChannel reports. The firm acquired 1,125 shares of the industrial products company’s stock, valued at approximately $123,000.

A number of other institutional investors have also recently made changes to their positions in the company. Newport Trust Company LLC purchased a new position in shares of Emerson Electric during the second quarter valued at about $574,908,000. Legal & General Group Plc grew its position in shares of Emerson Electric by 5.2% during the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after purchasing an additional 224,784 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Emerson Electric by 107.2% during the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock valued at $422,852,000 after purchasing an additional 2,016,075 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Emerson Electric by 3.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,523,394 shares of the industrial products company’s stock worth $385,354,000 after acquiring an additional 132,186 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Emerson Electric by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,287,326 shares of the industrial products company’s stock worth $359,535,000 after acquiring an additional 23,739 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on EMR shares. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Morgan Stanley started coverage on Emerson Electric in a research report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price target for the company. BNP Paribas started coverage on Emerson Electric in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 price target for the company. Robert W. Baird lifted their price target on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada dropped their price target on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.11.

Emerson Electric Stock Performance

Emerson Electric stock opened at $134.34 on Thursday. The company has a 50 day moving average price of $118.59 and a 200-day moving average price of $111.83. 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 Co. has a fifty-two week low of $87.59 and a fifty-two week high of $134.85. The company has a market capitalization of $76.51 billion, a PE ratio of 39.28, a P/E/G ratio of 2.25 and a beta of 1.34.

Emerson Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 1.57%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 61.70%.

Insider Activity at Emerson Electric

In related news, SVP Michael H. Train sold 21,525 shares of Emerson Electric stock in a transaction that occurred 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 trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate 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.