Zurcher Kantonalbank Zurich Cantonalbank Has $26.87 Million Stock Position in Emerson Electric Co. (NYSE:EMR)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 20.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,704 shares of the industrial products company’s stock after selling 63,462 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Emerson Electric were worth $26,873,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Emerson Electric in the 3rd quarter valued at approximately $25,000. Darwin Wealth Management LLC acquired a new position in shares of Emerson Electric in the third quarter valued at $29,000. Frazier Financial Advisors LLC acquired a new stake in Emerson Electric during the third quarter worth $33,000. Meeder Asset Management Inc. increased its holdings in Emerson Electric by 361.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after buying an additional 235 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new position in shares of Emerson Electric in the 3rd quarter valued at $33,000. 74.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Michael H. Train sold 21,525 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $33,052,911.68. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EMR shares. Stephens cut shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. 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 report on Wednesday, November 6th. Robert W. Baird boosted their price target on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. UBS Group assumed coverage on Emerson Electric in a report on Wednesday, November 13th. They set a “neutral” rating and a $135.00 price objective for the company. Finally, StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.00.

Emerson Electric Stock Performance

EMR stock opened at $132.62 on Friday. The stock has a market capitalization of $75.62 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 2.23 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. The company has a 50 day moving average price of $116.88 and a 200 day moving average price of $111.42. Emerson Electric Co. has a fifty-two week low of $87.59 and a fifty-two week high of $134.17.

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 $0.5275 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.59%. Emerson Electric’s dividend payout ratio (DPR) is currently 61.70%.

Emerson Electric 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.