New York State Common Retirement Fund Sells 15,500 Shares of Emerson Electric Co. $EMR

New York State Common Retirement Fund reduced its stake in Emerson Electric Co. (NYSE:EMR) by 1.8% during the 2nd quarter, Holdings Channel reports. The fund owned 824,199 shares of the industrial products company’s stock after selling 15,500 shares during the period. New York State Common Retirement Fund’s holdings in Emerson Electric were worth $109,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. raised its stake in Emerson Electric by 18.3% during the second quarter. Coldstream Capital Management Inc. now owns 21,378 shares of the industrial products company’s stock worth $2,850,000 after acquiring an additional 3,308 shares in the last quarter. Davis Investment Partners LLC bought a new stake in shares of Emerson Electric during the 2nd quarter valued at approximately $692,000. CORDA Investment Management LLC. acquired a new position in Emerson Electric during the 2nd quarter worth approximately $1,173,000. HighTower Advisors LLC lifted its stake in Emerson Electric by 1.6% in the 1st quarter. HighTower Advisors LLC now owns 716,343 shares of the industrial products company’s stock valued at $78,540,000 after purchasing an additional 11,097 shares during the last quarter. Finally, DnB Asset Management AS boosted its position in Emerson Electric by 5.6% in the first quarter. DnB Asset Management AS now owns 916,663 shares of the industrial products company’s stock valued at $100,503,000 after buying an additional 48,226 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

EMR has been the subject of several research analyst reports. Jefferies Financial Group lowered their price target on shares of Emerson Electric from $155.00 to $145.00 and set a “buy” rating for the company in a report on Friday, November 21st. JPMorgan Chase & Co. lowered their target price on Emerson Electric from $151.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Royal Bank Of Canada cut their price target on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $140.00 price objective (down previously from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Finally, Barclays lifted their target price on shares of Emerson Electric from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.13.

Emerson Electric Stock Performance

NYSE:EMR opened at $134.03 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27. The company has a 50 day simple moving average of $131.35 and a two-hundred day simple moving average of $131.91. The company has a market capitalization of $75.30 billion, a PE ratio of 28.82, a P/E/G ratio of 2.36 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The company had revenue of $3.16 billion for the quarter. Research analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a dividend of $0.555 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.22 annualized dividend and a dividend yield of 1.7%. Emerson Electric’s payout ratio is 54.95%.

Emerson Electric declared that its board has initiated a share buyback plan on Wednesday, November 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

About Emerson Electric

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.