New York State Common Retirement Fund Sells 39,800 Shares of Emerson Electric Co. (NYSE:EMR)

New York State Common Retirement Fund cut its holdings in Emerson Electric Co. (NYSE:EMR - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 839,699 shares of the industrial products company's stock after selling 39,800 shares during the period. New York State Common Retirement Fund owned 0.15% of Emerson Electric worth $92,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in Emerson Electric by 74.1% in the 4th quarter. Brighton Jones LLC now owns 11,392 shares of the industrial products company's stock worth $1,412,000 after purchasing an additional 4,850 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Emerson Electric in the 4th quarter worth approximately $291,000. Natixis Advisors LLC lifted its stake in Emerson Electric by 8.7% in the 4th quarter. Natixis Advisors LLC now owns 360,988 shares of the industrial products company's stock worth $44,737,000 after purchasing an additional 29,022 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Emerson Electric by 0.5% in the 4th quarter. Corient Private Wealth LLC now owns 963,780 shares of the industrial products company's stock worth $119,441,000 after purchasing an additional 5,224 shares in the last quarter. Finally, Sovereign Investment Advisors LLC purchased a new stake in Emerson Electric in the 4th quarter worth approximately $363,000. 74.30% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 164,957 shares in the company, valued at $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Emerson Electric Price Performance

EMR stock opened at $140.07 on Monday. The firm's 50-day moving average price is $125.11 and its two-hundred day moving average price is $118.89. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $142.32. The stock has a market capitalization of $78.79 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.72 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42.

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

Emerson Electric Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EMR. Wall Street Zen upgraded shares of Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Barclays lifted their price objective on shares of Emerson Electric from $118.00 to $125.00 and gave the stock an "underweight" rating in a report on Wednesday, July 9th. KeyCorp lifted their price objective on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada lifted their price objective 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. Finally, TD Cowen raised shares of Emerson Electric to a "strong-buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $139.83.

Emerson Electric Company 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.

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