New York State Teachers Retirement System Sells 21,137 Shares of Emerson Electric Co. (NYSE:EMR)

New York State Teachers Retirement System cut its stake in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,815 shares of the industrial products company's stock after selling 21,137 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Emerson Electric worth $48,879,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EMR. Stokes Family Office LLC boosted its stake in Emerson Electric by 94.8% in the 4th quarter. Stokes Family Office LLC now owns 9,206 shares of the industrial products company's stock worth $1,141,000 after purchasing an additional 4,480 shares during the period. Clark Capital Management Group Inc. raised its stake in shares of Emerson Electric by 7.7% during the 4th quarter. Clark Capital Management Group Inc. now owns 6,042 shares of the industrial products company's stock worth $749,000 after purchasing an additional 434 shares in the last quarter. World Investment Advisors lifted its holdings in shares of Emerson Electric by 41.2% during the 4th quarter. World Investment Advisors now owns 20,823 shares of the industrial products company's stock valued at $2,581,000 after buying an additional 6,079 shares during the last quarter. Geode Capital Management LLC increased its holdings in Emerson Electric by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company's stock worth $1,443,725,000 after buying an additional 232,540 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Emerson Electric during the fourth quarter valued at approximately $297,947,000. 74.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Emerson Electric

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday. KeyCorp lifted their target price on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wall Street Zen upgraded Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Citigroup boosted their price objective on Emerson Electric from $133.00 to $146.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. raised their target price on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.65.

Emerson Electric Price Performance

EMR traded up $2.11 during midday trading on Tuesday, hitting $135.44. The company had a trading volume of 2,724,791 shares, compared to its average volume of 2,973,658. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market capitalization of $76.19 billion, a PE ratio of 32.40, a P/E/G ratio of 2.63 and a beta of 1.28. The firm's 50-day simple moving average is $119.01 and its 200-day simple moving average is $118.08. Emerson Electric Co. has a twelve month low of $90.06 and a twelve month high of $135.95.

Emerson Electric (NYSE:EMR - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS 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 analysts' expectations of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. Equities research analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, May 16th. Emerson Electric's payout ratio is 50.48%.

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.