New York State Common Retirement Fund Lowers Holdings in Emerson Electric Co. (NYSE:EMR)

New York State Common Retirement Fund decreased its stake in shares of Emerson Electric Co. (NYSE:EMR) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 879,499 shares of the industrial products company’s stock after selling 39,971 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Emerson Electric worth $108,996,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Emerson Electric by 6.2% in the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock worth $2,822,858,000 after purchasing an additional 1,507,980 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Emerson Electric by 4.2% in the third quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company’s stock worth $1,591,612,000 after purchasing an additional 581,102 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Emerson Electric by 1.4% in the third quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock worth $1,247,570,000 after purchasing an additional 162,985 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Emerson Electric by 5.7% in the fourth quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company’s stock worth $871,083,000 after purchasing an additional 375,470 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Emerson Electric by 107.2% in the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock worth $422,852,000 after purchasing an additional 2,016,075 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EMR. Daiwa America upgraded Emerson Electric to a “strong-buy” rating in a research note on Tuesday, January 28th. KeyCorp lifted their price objective on Emerson Electric from $140.00 to $158.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Jefferies Financial Group initiated coverage on Emerson Electric in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective for the company. Robert W. Baird lifted their price objective on Emerson Electric from $117.00 to $118.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Morgan Stanley lifted their price objective on Emerson Electric from $105.00 to $112.00 and gave the stock an “underweight” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Emerson Electric has an average rating of “Moderate Buy” and an average target price of $136.90.

Emerson Electric Stock Performance

NYSE EMR opened at $124.47 on Thursday. The firm has a market cap of $70.19 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. Emerson Electric Co. has a twelve month low of $96.62 and a twelve month high of $134.85. The business has a 50-day moving average price of $125.38 and a 200-day moving average price of $117.35. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. As a group, equities research analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.5275 per share. The ex-dividend date is Friday, February 14th. This represents a $2.11 annualized dividend and a yield of 1.70%. Emerson Electric’s payout ratio is currently 50.36%.

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.