Arizona State Retirement System Trims Stock Position in Emerson Electric Co. (NYSE:EMR)

Arizona State Retirement System cut its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 6.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 154,062 shares of the industrial products company's stock after selling 10,736 shares during the period. Arizona State Retirement System's holdings in Emerson Electric were worth $16,891,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Emerson Electric by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company's stock worth $6,634,837,000 after acquiring an additional 384,313 shares during the period. Geode Capital Management LLC lifted its stake in shares of Emerson Electric by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company's stock worth $1,443,725,000 after purchasing an additional 232,540 shares during the period. Norges Bank purchased a new position in shares of Emerson Electric in the fourth quarter worth approximately $885,886,000. Northern Trust Corp grew its position in Emerson Electric by 5.9% during the fourth quarter. Northern Trust Corp now owns 6,676,168 shares of the industrial products company's stock valued at $827,377,000 after buying an additional 370,560 shares during the period. Finally, Schroder Investment Management Group increased its holdings in Emerson Electric by 4.1% during the fourth quarter. Schroder Investment Management Group now owns 4,376,492 shares of the industrial products company's stock valued at $542,379,000 after buying an additional 171,946 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the completion of the transaction, the chief executive officer owned 164,957 shares of the company's stock, valued at $18,694,576.81. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EMR. TD Cowen upgraded shares of Emerson Electric to a "strong-buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Barclays upped their target price on shares of Emerson Electric from $118.00 to $125.00 and gave the stock an "underweight" rating in a research report on Wednesday. Robert W. Baird decreased their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, KeyCorp upped their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Emerson Electric currently has an average rating of "Moderate Buy" and a consensus target price of $139.83.

Emerson Electric Stock Down 0.4%

Emerson Electric stock traded down $0.60 during midday trading on Friday, hitting $140.07. 2,107,737 shares of the company's stock were exchanged, compared to its average volume of 3,010,933. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. Emerson Electric Co. has a 12 month low of $90.06 and a 12 month high of $142.32. The firm has a 50-day moving average of $125.11 and a two-hundred day moving average of $118.95. The company has a market cap of $78.79 billion, a PE ratio of 33.51, a P/E/G ratio of 2.72 and a beta of 1.29.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.07. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. Emerson Electric's revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share. As a group, analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 annualized dividend and a yield of 1.51%. Emerson Electric's dividend payout ratio (DPR) is 50.48%.

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.