Texas Permanent School Fund Corp Trims Stake in Emerson Electric Co. $EMR

Texas Permanent School Fund Corp cut its stake in shares of Emerson Electric Co. (NYSE:EMR) by 35.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 39,486 shares of the industrial products company’s stock after selling 21,526 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Emerson Electric were worth $5,265,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Caldwell Trust Co purchased a new position in shares of Emerson Electric during the 2nd quarter valued at about $4,134,000. Valeo Financial Advisors LLC raised its stake in Emerson Electric by 11.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 12,031 shares of the industrial products company’s stock worth $1,604,000 after acquiring an additional 1,264 shares during the period. Reynders McVeigh Capital Management LLC boosted its position in shares of Emerson Electric by 14.3% in the second quarter. Reynders McVeigh Capital Management LLC now owns 7,647 shares of the industrial products company’s stock worth $1,020,000 after purchasing an additional 954 shares during the period. V. M. Manning & CO. Inc. purchased a new stake in shares of Emerson Electric in the second quarter worth $241,000. Finally, Osaic Holdings Inc. raised its position in shares of Emerson Electric by 14.4% during the 2nd quarter. Osaic Holdings Inc. now owns 219,598 shares of the industrial products company’s stock valued at $29,140,000 after purchasing an additional 27,570 shares during the period. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Wall Street Analysts Forecast Growth

EMR has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price target on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their target price on Emerson Electric from $151.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Daiwa Capital Markets upped their price target on Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Jefferies Financial Group reiterated a “hold” rating and set a $145.00 price objective on shares of Emerson Electric in a research report on Wednesday, December 10th. Finally, Barclays upped 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 analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.06.

Insider Transactions at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total value of $965,979.00. Following the completion of the sale, the chief executive officer directly owned 196,292 shares of the company’s stock, valued at $26,106,836. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Emerson Electric Stock Down 1.8%

NYSE EMR opened at $131.67 on Thursday. The stock has a 50 day moving average price of $132.29 and a 200-day moving average price of $133.39. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.65 and a current ratio of 0.88. The company has a market capitalization of $74.04 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.19 and a beta of 1.26.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. Emerson Electric had a net margin of 12.73% and a return on equity of 15.87%. The business had revenue of $3.16 billion during the quarter. As a group, equities analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Increases Dividend

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

Emerson Electric announced that its board has authorized a stock 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 reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.