Meridian Wealth Management LLC Takes $3.75 Million Position in Emerson Electric Co. (NYSE:EMR)

Meridian Wealth Management LLC bought a new position in shares of Emerson Electric Co. (NYSE:EMR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 34,306 shares of the industrial products company’s stock, valued at approximately $3,752,000.

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

Insiders Place Their Bets

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 262,408 shares in the company, valued at $33,052,911.68. The trade was a 7.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Oppenheimer lifted their target price 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 raised their price target on Emerson Electric from $103.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Emerson Electric in a research note on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $132.00 to $115.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned 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 an average price target of $130.00.

Emerson Electric Trading Up 1.4 %

NYSE EMR opened at $130.07 on Friday. 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 one year low of $87.55 and a one year high of $131.56. The company’s 50 day moving average price is $114.02 and its 200 day moving average price is $110.74. The firm has a market capitalization of $74.17 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.15 and a beta of 1.30.

Emerson Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.5275 dividend. This is an increase 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 1.62%. 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.