New York State Common Retirement Fund Sells 70,683 Shares of Emerson Electric Co. (NYSE:EMR)

New York State Common Retirement Fund cut its holdings in Emerson Electric Co. (NYSE:EMR) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 919,470 shares of the industrial products company’s stock after selling 70,683 shares during the quarter. New York State Common Retirement Fund owned approximately 0.16% of Emerson Electric worth $100,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norden Group LLC purchased a new stake in shares of Emerson Electric during the 1st quarter valued at $231,000. Diversify Advisory Services LLC acquired a new position in shares of Emerson Electric during the first quarter valued at about $588,000. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Emerson Electric by 9.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,336 shares of the industrial products company’s stock valued at $1,626,000 after purchasing an additional 1,224 shares during the last quarter. St. Louis Trust Co grew its position in Emerson Electric by 77.1% during the 1st quarter. St. Louis Trust Co now owns 10,864 shares of the industrial products company’s stock worth $1,232,000 after purchasing an additional 4,729 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in Emerson Electric by 2.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 7,021 shares of the industrial products company’s stock valued at $796,000 after purchasing an additional 144 shares in the last quarter. 74.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EMR. Oppenheimer boosted their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Royal Bank of Canada cut their price objective on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Morgan Stanley began coverage on Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price for the company. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Finally, Robert W. Baird lifted their price objective on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $125.47.

Emerson Electric Stock Performance

Shares of EMR stock opened at $108.46 on Friday. The company has a market capitalization of $62.12 billion, a P/E ratio of 36.40, a P/E/G ratio of 1.67 and a beta of 1.30. The business’s 50 day moving average is $106.66 and its two-hundred day moving average is $108.88. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. Emerson Electric Co. has a 12-month low of $83.10 and a 12-month high of $119.53.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the company posted $1.29 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts expect that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 annualized dividend and a yield of 1.94%. Emerson Electric’s dividend payout ratio (DPR) is currently 70.47%.

Emerson Electric Company 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.