Emerson Electric Co. (NYSE:EMR) Holdings Lowered by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System has reduced its stake in Emerson Electric Co. by 12.9%, now holding 26,718 shares worth approximately $2.93 million.
• Emerson Electric recently declared a quarterly dividend of $0.5275 per share, yielding about 1.6%, with a payout ratio of 45.38%.
• Analysts have shown increased confidence in Emerson Electric, with multiple firms upgrading their ratings and raising target prices, leading to an average rating of "Moderate Buy" and a target price of $142.39.

Maryland State Retirement & Pension System trimmed its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,718 shares of the industrial products company's stock after selling 3,951 shares during the period. Maryland State Retirement & Pension System's holdings in Emerson Electric were worth $2,929,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Northern Trust Corp raised its position in shares of Emerson Electric by 5.9% in the 4th quarter. Northern Trust Corp now owns 6,676,168 shares of the industrial products company's stock valued at $827,377,000 after purchasing an additional 370,560 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Emerson Electric by 9.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,862,749 shares of the industrial products company's stock valued at $478,710,000 after acquiring an additional 339,355 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Emerson Electric by 18.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,793,436 shares of the industrial products company's stock valued at $415,912,000 after acquiring an additional 579,653 shares in the last quarter. Royal Bank of Canada raised its position in shares of Emerson Electric by 10.0% during the 4th quarter. Royal Bank of Canada now owns 3,309,998 shares of the industrial products company's stock valued at $410,207,000 after acquiring an additional 299,929 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Emerson Electric by 3,866.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock valued at $374,581,000 after acquiring an additional 2,946,310 shares in the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EMR has been the topic of several research reports. Wells Fargo & Company upped their price target on Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Bank of America upped their price target on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. KeyCorp upped their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. TD Cowen upgraded Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. upped their price objective on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $142.39.

Emerson Electric Price Performance

EMR stock traded down $0.01 during trading hours on Friday, hitting $132.82. 2,443,658 shares of the stock traded hands, compared to its average volume of 3,730,385. The stock has a 50-day simple moving average of $135.34 and a 200 day simple moving average of $121.59. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The company has a market cap of $74.75 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.59 and a beta of 1.32. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.01. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%. The business had revenue of $4.55 billion during the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter last year, the business posted $1.43 earnings per share. The company's quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.5275 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.11 annualized dividend and a yield of 1.6%. Emerson Electric's dividend payout ratio (DPR) is currently 45.38%.

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.