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

New York State Common Retirement Fund cut its holdings in Emerson Electric Co. (NYSE:EMR) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 824,199 shares of the industrial products company’s stock after selling 15,500 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Emerson Electric worth $109,890,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Schroder Investment Management Group raised its holdings in shares of Emerson Electric by 51.6% during the second quarter. Schroder Investment Management Group now owns 6,346,398 shares of the industrial products company’s stock worth $846,165,000 after acquiring an additional 2,159,126 shares during the period. Norges Bank bought a new position in Emerson Electric during the 2nd quarter worth about $918,830,000. Scotia Capital Inc. raised its stake in shares of Emerson Electric by 34.3% in the 2nd quarter. Scotia Capital Inc. now owns 644,905 shares of the industrial products company’s stock valued at $85,984,000 after purchasing an additional 164,770 shares during the period. Level Four Advisory Services LLC lifted its holdings in shares of Emerson Electric by 5.7% in the second quarter. Level Four Advisory Services LLC now owns 12,403 shares of the industrial products company’s stock valued at $1,654,000 after purchasing an additional 674 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. boosted its position in shares of Emerson Electric by 363.8% during the second quarter. Bank of Nova Scotia Trust Co. now owns 28,652 shares of the industrial products company’s stock worth $3,820,000 after buying an additional 22,475 shares during the period. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Performance

NYSE EMR opened at $134.03 on Friday. The firm’s fifty day moving average price is $131.35 and its two-hundred day moving average price is $131.91. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $150.27. The firm has a market capitalization of $75.30 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.30. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42.

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

Emerson Electric Increases Dividend

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

Emerson Electric declared that its board has authorized a share repurchase program on Wednesday, November 5th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

EMR has been the topic of a number of recent research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $140.00 target price (down previously from $150.00) on shares of Emerson Electric in a research report on Monday, October 6th. Royal Bank Of Canada lowered their price objective on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of Emerson Electric from $151.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Emerson Electric from $157.00 to $159.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Emerson Electric in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.13.

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.