Synovus Financial Corp Reduces Holdings in Emerson Electric Co. (NYSE:EMR)

Synovus Financial Corp lowered its stake in Emerson Electric Co. (NYSE:EMR) by 4.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,165 shares of the industrial products company’s stock after selling 2,753 shares during the quarter. Synovus Financial Corp’s holdings in Emerson Electric were worth $5,924,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of EMR. Newport Trust Company LLC acquired a new stake in shares of Emerson Electric during the second quarter valued at $574,908,000. Pathway Financial Advisers LLC boosted its stake in shares of Emerson Electric by 10,993.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock worth $226,443,000 after purchasing an additional 2,051,764 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Emerson Electric by 107.2% during the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock worth $422,852,000 after buying an additional 2,016,075 shares in the last quarter. State Street Corp raised its position in shares of Emerson Electric by 6.2% in the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock valued at $2,822,858,000 after buying an additional 1,507,980 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of Emerson Electric by 127.3% during the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after buying an additional 1,424,800 shares during the period. Institutional investors and hedge funds own 74.30% of the company’s stock.

Insider Buying and Selling at Emerson Electric

In other news, SVP Michael H. Train sold 21,525 shares of the company’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 completion of the transaction, the senior vice president now directly owns 262,408 shares in the company, valued at approximately $33,052,911.68. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Emerson Electric Trading Down 0.7 %

Shares of EMR opened at $130.19 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. Emerson Electric Co. has a 12 month low of $91.64 and a 12 month high of $134.85. The stock has a market cap of $74.14 billion, a PE ratio of 38.07, a P/E/G ratio of 2.20 and a beta of 1.34. The stock’s 50-day moving average is $121.54 and its two-hundred day moving average is $112.68.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is currently 61.70%.

Analyst Ratings Changes

A number of brokerages have weighed in on EMR. UBS Group initiated coverage on Emerson Electric in a research note on Wednesday, November 13th. They set a “neutral” rating and a $135.00 price target on the stock. Morgan Stanley started coverage on Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. Loop Capital lifted their price target on Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Royal Bank of Canada cut their price objective on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Barclays upped their price target on shares of Emerson Electric from $116.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and an average price target of $134.58.

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.