State of New Jersey Common Pension Fund D Sells 1,928 Shares of Emerson Electric Co. $EMR

State of New Jersey Common Pension Fund D lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,982 shares of the industrial products company’s stock after selling 1,928 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Emerson Electric were worth $25,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its position in Emerson Electric by 2.7% during the first quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock valued at $23,271,000 after purchasing an additional 5,504 shares during the last quarter. Davis Investment Partners LLC bought a new position in Emerson Electric during the second quarter valued at $692,000. North Capital Inc. bought a new position in Emerson Electric during the first quarter valued at $211,000. Golden State Equity Partners bought a new position in Emerson Electric during the first quarter valued at $459,000. Finally, Truist Financial Corp lifted its position in Emerson Electric by 1.7% during the first quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company’s stock valued at $118,259,000 after purchasing an additional 18,069 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EMR shares. Stephens lifted their price objective on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. TD Cowen raised shares of Emerson Electric to a “strong-buy” rating in a research note on Tuesday, July 8th. KeyCorp lifted their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Emerson Electric in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Emerson Electric from $135.00 to $151.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $148.28.

Emerson Electric Stock Down 0.3%

NYSE:EMR opened at $132.81 on Friday. Emerson Electric Co. has a 1-year low of $90.06 and a 1-year high of $150.27. The company has a 50-day moving average of $131.77 and a 200 day moving average of $126.91. The firm has a market cap of $74.75 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63.

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 during the quarter. As a group, research analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. Emerson Electric’s dividend payout ratio is 45.38%.

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.