SouthState Corp Cuts Position in Emerson Electric Co. (NYSE:EMR)

SouthState Corp reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 48,455 shares of the industrial products company’s stock after selling 205 shares during the quarter. SouthState Corp’s holdings in Emerson Electric were worth $5,300,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EMR. Capital Performance Advisors LLP purchased a new position in shares of Emerson Electric in the 3rd quarter worth $25,000. Transcendent Capital Group LLC purchased a new position in Emerson Electric in the first quarter worth about $31,000. Frazier Financial Advisors LLC bought a new stake in Emerson Electric during the third quarter worth approximately $33,000. Meeder Asset Management Inc. raised its position in Emerson Electric by 361.5% during the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 235 shares during the period. Finally, Morton Brown Family Wealth LLC bought a new stake in shares of Emerson Electric in the 3rd quarter valued at approximately $33,000. Institutional investors own 74.30% of the company’s stock.

Analyst Ratings Changes

EMR has been the topic of several recent research reports. BNP Paribas began coverage on Emerson Electric in a report on Wednesday, November 13th. They set an “outperform” rating and a $155.00 price target on the stock. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Oppenheimer increased their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Barclays increased their price target on Emerson Electric from $103.00 to $116.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their target price on Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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 that occurred on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $33,052,911.68. This represents a 7.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Emerson Electric Price Performance

Shares of EMR opened at $129.20 on Tuesday. The company has a 50 day moving average of $111.73 and a two-hundred day moving average of $110.16. The company has a market cap of $73.67 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30. 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 Co. has a twelve month low of $87.55 and a twelve month high of $131.56.

Emerson Electric Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a yield of 1.63%. Emerson Electric’s dividend payout ratio is 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.