New York State Common Retirement Fund Has $98.57 Million Stake in Emerson Electric Co. (NYSE:EMR)

New York State Common Retirement Fund trimmed its stake in shares of Emerson Electric Co. (NYSE:EMR) by 6.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,012,698 shares of the industrial products company’s stock after selling 71,502 shares during the period. New York State Common Retirement Fund’s holdings in Emerson Electric were worth $98,566,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Morgan Stanley lifted its position in shares of Emerson Electric by 7.9% during the third quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock worth $1,327,876,000 after purchasing an additional 1,008,294 shares in the last quarter. Invesco Ltd. raised its stake in shares of Emerson Electric by 16.9% during the third quarter. Invesco Ltd. now owns 8,199,836 shares of the industrial products company’s stock worth $791,858,000 after buying an additional 1,184,202 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Emerson Electric by 26.5% during the fourth quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after buying an additional 1,558,903 shares during the last quarter. Northern Trust Corp raised its stake in shares of Emerson Electric by 2.4% during the third quarter. Northern Trust Corp now owns 7,167,611 shares of the industrial products company’s stock worth $692,176,000 after buying an additional 168,783 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Emerson Electric by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 5,865,155 shares of the industrial products company’s stock worth $566,398,000 after buying an additional 165,249 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Price Performance

EMR stock traded up $1.23 during mid-day trading on Tuesday, hitting $109.86. The stock had a trading volume of 504,138 shares, compared to its average volume of 2,620,448. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29. Emerson Electric Co. has a 52 week low of $76.94 and a 52 week high of $115.26. The firm has a market capitalization of $62.71 billion, a P/E ratio of 5.66, a P/E/G ratio of 1.88 and a beta of 1.37. The firm has a fifty day simple moving average of $110.06 and a 200 day simple moving average of $98.94.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.04 by $0.18. Emerson Electric had a net margin of 69.33% and a return on equity of 11.59%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the firm earned $0.78 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, research analysts forecast that Emerson Electric Co. will post 5.4 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $0.525 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.91%. Emerson Electric’s payout ratio is currently 10.94%.

Insider Activity

In related news, Director Mark A. Blinn sold 2,413 shares of Emerson Electric stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $103.18, for a total transaction of $248,973.34. Following the sale, the director now directly owns 9,591 shares in the company, valued at approximately $989,599.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Emerson Electric from $106.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Barclays upped their price target on shares of Emerson Electric from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Citigroup upped their price target on shares of Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a report on Monday, April 8th. Bank of America upped their price target on shares of Emerson Electric from $120.00 to $130.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Mizuho increased their target price on shares of Emerson Electric from $118.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.25.

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.