Peak Asset Management LLC cut its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 91,718 shares of the company’s stock after selling 389 shares during the period. Emerson Electric makes up 2.1% of Peak Asset Management LLC’s portfolio, making the stock its 17th largest position. Peak Asset Management LLC’s holdings in Emerson Electric were worth $5,000,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Dividend Assets Capital LLC increased its position in shares of Emerson Electric by 28.4% in the third quarter. Dividend Assets Capital LLC now owns 12,675 shares of the company’s stock worth $691,000 after buying an additional 2,805 shares during the last quarter. Alps Advisors Inc. boosted its position in Emerson Electric by 20.4% in the third quarter. Alps Advisors Inc. now owns 609,862 shares of the company’s stock worth $33,244,000 after buying an additional 103,385 shares during the period. NewSquare Capital LLC boosted its position in Emerson Electric by 6.6% in the third quarter. NewSquare Capital LLC now owns 11,919 shares of the company’s stock worth $650,000 after buying an additional 738 shares during the period. State Treasurer State of Michigan boosted its position in Emerson Electric by 172.4% in the third quarter. State Treasurer State of Michigan now owns 731,427 shares of the company’s stock worth $39,870,000 after buying an additional 462,900 shares during the period. Finally, Cardinal Capital Management boosted its position in Emerson Electric by 2.3% in the third quarter. Cardinal Capital Management now owns 73,111 shares of the company’s stock worth $3,985,000 after buying an additional 1,630 shares during the period. Institutional investors and hedge funds own 70.17% of the company’s stock.

Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

Shares of Emerson Electric Co. (NYSE:EMR) traded down 0.06% during mid-day trading on Tuesday, reaching $54.40. The company had a trading volume of 3,408,130 shares. The stock has a 50 day moving average price of $51.98 and a 200 day moving average price of $52.79. Emerson Electric Co. has a 12-month low of $41.25 and a 12-month high of $56.82. The firm has a market capitalization of $34.97 billion, a PE ratio of 21.59 and a beta of 1.14.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 11th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Tuesday, November 8th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is 76.19%.

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A number of research firms have commented on EMR. Vetr cut shares of Emerson Electric from a “sell” rating to a “strong sell” rating and set a $44.20 price objective for the company. in a research report on Monday, November 7th. TheStreet cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Zacks Investment Research raised shares of Emerson Electric from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 19th. HSBC began coverage on shares of Emerson Electric in a research report on Friday, October 7th. They set a “reduce” rating for the company. Finally, Berenberg Bank began coverage on shares of Emerson Electric in a research report on Monday, October 3rd. They set a “sell” rating and a $41.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.75.

About Emerson Electric

Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.

5 Day Chart for NYSE:EMR

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