State of Michigan Retirement System Decreases Holdings in Emerson Electric Co. (NYSE:EMR)

State of Michigan Retirement System cut its holdings in shares of Emerson Electric Co. (NYSE:EMRFree Report) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,120 shares of the industrial products company’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in Emerson Electric were worth $15,195,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Resurgent Financial Advisors LLC bought a new position in shares of Emerson Electric during the 4th quarter worth $32,000. Certified Advisory Corp bought a new position in shares of Emerson Electric during the 1st quarter worth $34,000. West Tower Group LLC bought a new position in shares of Emerson Electric during the 2nd quarter worth $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of Emerson Electric during the 3rd quarter worth $42,000. Finally, Rational Advisors LLC bought a new position in shares of Emerson Electric during the 3rd quarter worth $42,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $113.34 on Wednesday. The firm has a market cap of $64.69 billion, a P/E ratio of 5.90, a P/E/G ratio of 1.97 and a beta of 1.37. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29. Emerson Electric Co. has a 12 month low of $76.94 and a 12 month high of $114.11. The stock’s fifty day moving average price is $105.45 and its 200-day moving average price is $97.31.

Emerson Electric (NYSE:EMRGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.91 billion. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, equities research analysts expect that Emerson Electric Co. will post 5.4 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, February 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 10.94%.

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 2,413 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $103.18, for a total transaction of $248,973.34. Following the transaction, the director now owns 9,591 shares of the company’s stock, valued at approximately $989,599.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. UBS Group increased their price target on Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Wells Fargo & Company raised their target price on Emerson Electric from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 19th. Berenberg Bank raised their target price on Emerson Electric from $100.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Bank of America raised their target price on Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, Barclays lifted their price target on Emerson Electric from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.56.

Check Out Our Latest Stock Report on EMR

About Emerson Electric

(Free Report)

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.

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

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