Citizens Financial Group Inc. RI Sells 71,749 Shares of Emerson Electric Co. (NYSE:EMR)

Citizens Financial Group Inc. RI decreased its position in Emerson Electric Co. (NYSE:EMR) by 74.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,830 shares of the industrial products company’s stock after selling 71,749 shares during the period. Citizens Financial Group Inc. RI’s holdings in Emerson Electric were worth $2,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake 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 buying an additional 3,060 shares during the last quarter. Bank of Montreal Can raised its position in shares of Emerson Electric by 17.0% during the 2nd quarter. Bank of Montreal Can now owns 1,339,301 shares of the industrial products company’s stock valued at $152,359,000 after acquiring an additional 194,944 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Emerson Electric by 8.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 69,285 shares of the industrial products company’s stock valued at $7,578,000 after purchasing an additional 5,416 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Emerson Electric by 82.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,977 shares of the industrial products company’s stock worth $435,000 after purchasing an additional 1,792 shares during the last quarter. Finally, Proactive Wealth Strategies LLC acquired a new position in shares of Emerson Electric during the third quarter worth about $443,000. 74.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank of Canada cut their target price on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Emerson Electric from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Finally, UBS Group began coverage on Emerson Electric in a report on Wednesday, November 13th. They set a “neutral” rating and a $135.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $130.00.

Insider Activity

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the company’s stock in a transaction on 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 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

Emerson Electric Stock Performance

NYSE EMR opened at $128.38 on Friday. The stock has a market cap of $73.20 billion, a PE ratio of 37.54, a P/E/G ratio of 2.17 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 1.77. The firm has a 50-day moving average of $113.46 and a 200-day moving average of $110.58. Emerson Electric Co. has a 52-week low of $87.55 and a 52-week high of $131.56.

Emerson Electric Increases Dividend

The company also recently disclosed 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 represents a $2.11 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s payout ratio is currently 61.70%.

Emerson Electric 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.