New York State Common Retirement Fund Sells 71,502 Shares of Emerson Electric Co. (NYSE:EMR)

New York State Common Retirement Fund cut its position in shares of Emerson Electric Co. (NYSE:EMR) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,012,698 shares of the industrial products company’s stock after selling 71,502 shares during the period. New York State Common Retirement Fund owned about 0.18% of Emerson Electric worth $98,566,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Waverly Advisors LLC raised its position in Emerson Electric by 100.2% during the 3rd quarter. Waverly Advisors LLC now owns 15,117 shares of the industrial products company’s stock valued at $1,460,000 after purchasing an additional 7,565 shares in the last quarter. Blackston Financial Advisory Group LLC purchased a new position in shares of Emerson Electric in the 4th quarter valued at $241,000. FMR LLC increased its holdings in shares of Emerson Electric by 1.3% in the 3rd quarter. FMR LLC now owns 3,233,697 shares of the industrial products company’s stock valued at $312,278,000 after acquiring an additional 41,263 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Emerson Electric in the 3rd quarter valued at $320,000. Finally, Capital Advisors Inc. OK increased its holdings in shares of Emerson Electric by 821.0% in the 4th quarter. Capital Advisors Inc. OK now owns 86,231 shares of the industrial products company’s stock valued at $8,393,000 after acquiring an additional 76,868 shares during the period. 74.30% of the stock is owned by institutional investors.

Emerson Electric Trading Up 1.1 %

NYSE:EMR traded up $1.23 during trading hours on Tuesday, reaching $109.86. 504,138 shares of the stock were exchanged, compared to its average volume of 2,620,448. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $110.06 and a two-hundred day moving average of $98.94. Emerson Electric Co. has a twelve month low of $76.94 and a twelve month high of $115.26. The company has a market capitalization of $62.71 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 1.88 and a beta of 1.37.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Emerson Electric had a return on equity of 11.59% and a net margin of 69.33%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. On average, equities analysts predict that Emerson Electric Co. will post 5.4 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.91%. Emerson Electric’s payout ratio is 10.94%.

Insider Activity at Emerson Electric

In other Emerson Electric news, Director Mark A. Blinn sold 2,413 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $103.18, for a total value of $248,973.34. Following the completion of the transaction, the director now directly 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 accessible through this link. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EMR. UBS Group lifted their price target on Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Citigroup boosted their target price on Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Mizuho boosted their target price on Emerson Electric from $118.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Bank of America boosted 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, Berenberg Bank boosted their price target on Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.25.

About Emerson Electric

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.