State of Tennessee Treasury Department grew its stake in Emerson Electric Co. (NYSE:EMR) by 15.7% in the first quarter, Holdings Channel reports. The institutional investor owned 214,802 shares of the industrial products company’s stock after buying an additional 29,121 shares during the period. State of Tennessee Treasury Department’s holdings in Emerson Electric were worth $14,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of EMR. Glassman Wealth Services raised its holdings in shares of Emerson Electric by 240.7% during the first quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 284 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Emerson Electric during the first quarter worth $34,000. Laurel Wealth Advisors LLC purchased a new position in shares of Emerson Electric during the fourth quarter worth $36,000. Legacy Advisors LLC purchased a new position in shares of Emerson Electric during the first quarter worth $41,000. Finally, Buffington Mohr McNeal purchased a new position in shares of Emerson Electric during the first quarter worth $41,000. 70.52% of the stock is owned by institutional investors and hedge funds.

In other news, VP Bell Katherine Button sold 15,791 shares of Emerson Electric stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $63.91, for a total value of $1,009,202.81. Following the sale, the vice president now owns 30,304 shares in the company, valued at $1,936,728.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by company insiders.

Several research analysts recently issued reports on EMR shares. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Citigroup upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and raised their price target for the company from $67.00 to $81.00 in a research report on Monday, April 8th. Finally, Credit Suisse Group dropped their price target on shares of Emerson Electric from $80.00 to $74.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $75.47.

EMR stock traded down $0.90 during midday trading on Wednesday, hitting $62.56. 1,527,018 shares of the stock traded hands, compared to its average volume of 3,344,470. The firm has a market cap of $39.14 billion, a PE ratio of 18.51, a P/E/G ratio of 2.03 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 1.07. Emerson Electric Co. has a 1-year low of $55.38 and a 1-year high of $79.70.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. Emerson Electric had a net margin of 12.81% and a return on equity of 24.63%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $0.76 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Research analysts predict that Emerson Electric Co. will post 3.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $0.49 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.96 annualized dividend and a dividend yield of 3.13%. Emerson Electric’s dividend payout ratio (DPR) is 57.99%.

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About Emerson Electric

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

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