Providence Capital Advisors LLC Acquires 56,500 Shares of Emerson Electric Co. (NYSE:EMR)

Providence Capital Advisors LLC boosted its position in shares of Emerson Electric Co. (NYSE:EMR) by 201,785.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,528 shares of the industrial products company’s stock after acquiring an additional 56,500 shares during the period. Providence Capital Advisors LLC’s holdings in Emerson Electric were worth $6,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Emerson Electric during the 3rd quarter valued at approximately $25,000. Darwin Wealth Management LLC purchased a new position in shares of Emerson Electric in the third quarter valued at $29,000. Meeder Asset Management Inc. grew its holdings in shares of Emerson Electric by 361.5% in 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 in the last quarter. Morton Brown Family Wealth LLC purchased a new position in Emerson Electric during the third quarter worth $33,000. Finally, Frazier Financial Advisors LLC purchased a new position in Emerson Electric during the third quarter worth $33,000. Institutional investors own 74.30% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Michael H. Train sold 21,525 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the sale, the senior vice president now owns 262,408 shares in the company, valued at approximately $33,052,911.68. The trade was a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $132.62 on Thursday. The company has a market capitalization of $75.62 billion, a PE ratio of 38.78, a P/E/G ratio of 2.23 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 company has a 50-day simple moving average of $115.79 and a two-hundred day simple moving average of $111.15. Emerson Electric Co. has a one year low of $87.55 and a one year high of $134.17.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.5275 dividend. 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 1.59%. Emerson Electric’s payout ratio is currently 61.70%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KeyCorp lifted their price objective on shares of Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Barclays lifted their target price 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. Wells Fargo & Company lifted their target price on Emerson Electric from $128.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Stephens downgraded Emerson Electric from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $135.00 to $120.00 in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

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.