Emerson Electric Co. (NYSE:EMR) Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Emerson Electric Co. by 9.0%, now holding 190,910 shares valued at approximately $20.9 million.
• Emerson Electric reported a net margin of 14.92% and a year-over-year revenue increase of 3.9%, with earnings per share of $1.52 for the latest quarter.
• The company announced a quarterly dividend of $0.5275, resulting in an annualized yield of 1.6%, with the payout ratio currently at 45.38%.

State of New Jersey Common Pension Fund D reduced its position in Emerson Electric Co. (NYSE:EMR - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,910 shares of the industrial products company's stock after selling 18,777 shares during the period. State of New Jersey Common Pension Fund D's holdings in Emerson Electric were worth $20,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Ethic Inc. lifted its stake in shares of Emerson Electric by 6.1% in the 1st quarter. Ethic Inc. now owns 65,991 shares of the industrial products company's stock valued at $7,259,000 after purchasing an additional 3,800 shares during the period. Aberdeen Group plc lifted its stake in shares of Emerson Electric by 27.9% in the 1st quarter. Aberdeen Group plc now owns 658,124 shares of the industrial products company's stock valued at $71,436,000 after purchasing an additional 143,495 shares during the period. Horizon Investments LLC lifted its stake in shares of Emerson Electric by 2.8% in the 1st quarter. Horizon Investments LLC now owns 10,051 shares of the industrial products company's stock valued at $1,102,000 after purchasing an additional 278 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of Emerson Electric by 15.8% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 67,265 shares of the industrial products company's stock valued at $7,375,000 after purchasing an additional 9,168 shares during the period. Finally, Cookson Peirce & Co. Inc. purchased a new stake in Emerson Electric in the 1st quarter worth $2,095,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Trading Down 1.9%

Shares of EMR opened at $131.78 on Friday. 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 Co. has a 12-month low of $90.06 and a 12-month high of $150.27. The firm has a 50-day moving average price of $136.53 and a 200 day moving average price of $121.82. The firm has a market capitalization of $74.17 billion, a P/E ratio of 28.34, a P/E/G ratio of 2.62 and a beta of 1.32.

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

Emerson Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.5275 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. Emerson Electric's dividend payout ratio is presently 45.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird cut their price target on shares of Emerson Electric from $140.00 to $130.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Royal Bank Of Canada boosted their price target on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Bank of America boosted their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Barclays raised shares of Emerson Electric from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $125.00 to $127.00 in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Emerson Electric presently has an average rating of "Moderate Buy" and an average price target of $142.39.

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.

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