Today, Cobiz Investment Management LLC Reduced the position of Emerson Electric Co. (EMR)

Today, Cobiz Investment Management LLC Reduced the position of Emerson Electric Co. (EMR)
Cobiz Investment Management LLC cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 3.3% during the third quarter, Holdings Channel reports. The firm owned 12,178 shares of the company’s stock after selling 420 shares during the period. Cobiz Investment Management LLC’s holdings in Emerson Electric were worth $664,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Emerson Electric by 3.3% in the second quarter. Vanguard Group Inc. now owns 39,936,101 shares of the company’s stock worth $2,083,068,000 after buying an additional 1,270,315 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Emerson Electric by 3.8% in the second quarter. BlackRock Fund Advisors now owns 11,764,504 shares of the company’s stock worth $613,637,000 after buying an additional 435,266 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Emerson Electric by 4.0% in the second quarter. Capital Research Global Investors now owns 10,759,443 shares of the company’s stock worth $561,213,000 after buying an additional 412,593 shares during the last quarter. Capital World Investors boosted its stake in shares of Emerson Electric by 58.3% in the second quarter. Capital World Investors now owns 9,500,000 shares of the company’s stock worth $495,520,000 after buying an additional 3,500,000 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Emerson Electric by 2.6% in the second quarter. FMR LLC now owns 8,896,013 shares of the company’s stock worth $464,016,000 after buying an additional 227,233 shares during the last quarter. Institutional investors own 70.10% of the company’s stock.

Emerson Electric Co. (NYSE:EMR) traded up 0.33% on Friday, hitting $55.24. The stock had a trading volume of 802,124 shares. The firm has a market cap of $35.51 billion, a P/E ratio of 21.92 and a beta of 1.14. Emerson Electric Co. has a 1-year low of $41.25 and a 1-year high of $56.82. The firm’s 50-day moving average price is $51.93 and its 200-day moving average price is $52.78.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 11th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 3.48%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio (DPR) is 76.19%.

A number of brokerages have recently issued reports on EMR. Buckingham Research cut Emerson Electric from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $49.00 to $44.00 in a report on Friday, August 19th. Credit Suisse Group AG cut Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 target price for the company. in a report on Friday, August 19th. They noted that the move was a valuation call. Berenberg Bank initiated coverage on Emerson Electric in a report on Monday, October 3rd. They issued a “sell” rating and a $41.00 price target for the company. Deutsche Bank AG restated a “hold” rating and issued a $53.00 price target on shares of Emerson Electric in a report on Thursday, August 25th. Finally, Vetr cut Emerson Electric from a “sell” rating to a “strong sell” rating and set a $47.31 price target for the company. in a report on Monday, October 3rd. Seven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. The stock 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.

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