Emerson Electric Co. (NYSE:EMR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 3.9% during the third quarter, HoldingsChannel reports. The firm owned 493,130 shares of the industrial products company’s stock after selling 19,776 shares during the quarter. New York State Teachers Retirement System’s holdings in Emerson Electric were worth $53,934,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EMR. Newport Trust Company LLC acquired a new stake in Emerson Electric in the second quarter valued at $574,908,000. Legal & General Group Plc raised its holdings in Emerson Electric by 5.2% in the second quarter. Legal & General Group Plc now owns 4,510,496 shares of the industrial products company’s stock valued at $496,877,000 after acquiring an additional 224,784 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Emerson Electric by 3.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,738,701 shares of the industrial products company’s stock valued at $297,653,000 after acquiring an additional 88,294 shares in the last quarter. Swedbank AB raised its holdings in Emerson Electric by 127.3% in the third quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock valued at $278,285,000 after acquiring an additional 1,424,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Emerson Electric by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,358,796 shares of the industrial products company’s stock valued at $259,809,000 after acquiring an additional 355,106 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EMR shares. Morgan Stanley started coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 price target on the stock. Robert W. Baird upped their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $135.00 to $120.00 in a research note on Wednesday, October 16th. Barclays lowered their target price on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer boosted their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Emerson Electric currently has a consensus rating of “Moderate Buy” and an average target price of $125.47.

Emerson Electric Stock Up 0.1 %

Emerson Electric stock opened at $109.06 on Thursday. The company has a 50-day simple moving average of $106.51 and a 200-day simple moving average of $108.90. The firm has a market capitalization of $62.39 billion, a P/E ratio of 5.84, a P/E/G ratio of 1.68 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. Emerson Electric Co. has a one year low of $83.10 and a one year high of $119.53.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data 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. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, equities analysts expect that Emerson Electric Co. will post 5.48 earnings per share for the current year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is currently 11.24%.

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.