Today, Thompson Rubinstein Investment Management Inc. OR Reduces stake in Emerson Electric Co. (EMR)

Today, Thompson Rubinstein Investment Management Inc. OR Reduces stake in Emerson Electric Co. (EMR)

Thompson Rubinstein Investment Management Inc. OR cut its stake in Emerson Electric Co. (NYSE:EMR) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,294 shares of the company’s stock after selling 4,175 shares during the period. Emerson Electric accounts for approximately 1.5% of Thompson Rubinstein Investment Management Inc. OR’s portfolio, making the stock its 24th largest position. Thompson Rubinstein Investment Management Inc. OR’s holdings in Emerson Electric were worth $3,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its position 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 valued at $495,520,000 after buying an additional 3,500,000 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Emerson Electric by 867.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,445,599 shares of the company’s stock valued at $75,402,000 after buying an additional 1,296,200 shares during the last quarter. Vanguard Group Inc. boosted its position 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 valued at $2,083,068,000 after buying an additional 1,270,315 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Emerson Electric by 128.6% in the second quarter. Prudential Financial Inc. now owns 2,090,364 shares of the company’s stock valued at $109,033,000 after buying an additional 1,176,016 shares during the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of Emerson Electric during the second quarter valued at about $46,108,000. 70.10% of the stock is currently owned by institutional investors.

Emerson Electric Co. (NYSE:EMR) traded up 0.33% during trading on Friday, hitting $55.24. 802,124 shares of the stock traded hands. Emerson Electric Co. has a 12 month low of $41.25 and a 12 month high of $56.82. The stock has a market cap of $35.51 billion, a P/E ratio of 21.92 and a beta of 1.14. The firm’s 50-day moving average is $51.93 and its 200-day moving average is $52.78.

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

Several research analysts have issued reports on EMR shares. Stifel Nicolaus dropped their target price on shares of Emerson Electric from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Barclays PLC lowered their price target on shares of Emerson Electric from $55.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 3rd. Deutsche Bank AG restated a “hold” rating on shares of Emerson Electric in a report on Thursday, September 15th. Morgan Stanley restated a “hold” rating and issued a $50.00 price target on shares of Emerson Electric in a report on Monday, August 29th. Finally, Zacks Investment Research upgraded shares of Emerson Electric from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 19th. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $51.75.

Emerson Electric Company Profile

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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