New York State Common Retirement Fund Trims Stake in Emerson Electric Co. (NYSE:EMR)

New York State Common Retirement Fund reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 879,499 shares of the industrial products company’s stock after selling 39,971 shares during the quarter. New York State Common Retirement Fund’s holdings in Emerson Electric were worth $108,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB increased its holdings in shares of Emerson Electric by 120.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 56,341 shares of the industrial products company’s stock valued at $6,162,000 after acquiring an additional 30,741 shares during the period. Geode Capital Management LLC increased its holdings in shares of Emerson Electric by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock valued at $1,247,570,000 after acquiring an additional 162,985 shares during the period. Larson Financial Group LLC increased its holdings in shares of Emerson Electric by 130.0% in the 3rd quarter. Larson Financial Group LLC now owns 9,541 shares of the industrial products company’s stock valued at $1,044,000 after acquiring an additional 5,393 shares during the period. GHP Investment Advisors Inc. increased its holdings in shares of Emerson Electric by 8.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 82,201 shares of the industrial products company’s stock valued at $10,187,000 after acquiring an additional 6,321 shares during the period. Finally, Proactive Wealth Strategies LLC purchased a new position in shares of Emerson Electric in the 3rd quarter valued at $443,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

Shares of Emerson Electric stock opened at $124.47 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25. Emerson Electric Co. has a twelve month low of $96.62 and a twelve month high of $134.85. The business has a 50-day moving average price of $125.38 and a 200 day moving average price of $117.35. The firm has a market cap of $70.19 billion, a PE ratio of 29.71, a P/E/G ratio of 2.46 and a beta of 1.34.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. Sell-side analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.5275 per share. The ex-dividend date is Friday, February 14th. This represents a $2.11 annualized dividend and a yield of 1.70%. Emerson Electric’s dividend payout ratio (DPR) is currently 50.36%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EMR. JPMorgan Chase & Co. dropped their target price on Emerson Electric from $137.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. UBS Group began coverage on Emerson Electric in a research note on Wednesday, November 13th. They set a “neutral” rating and a $135.00 target price on the stock. Morgan Stanley boosted their target price on Emerson Electric from $105.00 to $112.00 and gave the stock an “underweight” rating in a research note on Thursday, February 6th. KeyCorp boosted their target price on Emerson Electric from $140.00 to $158.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Robert W. Baird lifted their price target on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $136.90.

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.