Canoe Financial LP Reduces Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Canoe Financial LP cut its holdings in Emerson Electric Co. (NYSE:EMR) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 448,374 shares of the industrial products company’s stock after selling 1,237 shares during the quarter. Canoe Financial LP owned about 0.08% of Emerson Electric worth $55,567,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its stake in Emerson Electric by 0.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 18,428 shares of the industrial products company’s stock worth $2,016,000 after purchasing an additional 97 shares in the last quarter. Unison Advisors LLC lifted its stake in shares of Emerson Electric by 0.5% during the third quarter. Unison Advisors LLC now owns 21,115 shares of the industrial products company’s stock worth $2,309,000 after buying an additional 99 shares during the period. Wedmont Private Capital grew its holdings in shares of Emerson Electric by 2.0% during the third quarter. Wedmont Private Capital now owns 4,950 shares of the industrial products company’s stock valued at $557,000 after buying an additional 99 shares during the last quarter. Chesapeake Wealth Management raised its stake in Emerson Electric by 5.5% in the 2nd quarter. Chesapeake Wealth Management now owns 1,930 shares of the industrial products company’s stock worth $213,000 after acquiring an additional 100 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in Emerson Electric by 1.9% during the 2nd quarter. Gabelli Funds LLC now owns 5,380 shares of the industrial products company’s stock worth $593,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Analysts Set New Price Targets

EMR has been the topic of a number of research reports. KeyCorp increased their price objective on Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada reduced their price target on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group began coverage on shares of Emerson Electric in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. Loop Capital raised their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, UBS Group assumed coverage on shares of Emerson Electric in a report on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and an average target price of $135.89.

Emerson Electric Stock Up 1.1 %

Shares of NYSE EMR opened at $124.65 on Friday. Emerson Electric Co. has a 52-week low of $91.64 and a 52-week high of $134.85. 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 50-day simple moving average is $127.10 and its 200-day simple moving average is $115.11. The firm has a market cap of $70.99 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a dividend of $0.5275 per share. The ex-dividend date was Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is presently 61.70%.

Insider Activity

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the firm’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 owns 262,408 shares in the company, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

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.