Strs Ohio Takes $27.93 Million Position in Emerson Electric Co. $EMR

Key Points

• Strs Ohio has initiated a new investment in Emerson Electric Co. by acquiring 254,778 shares valued at approximately $27.93 million.
• Wall Street analysts are optimistic, with multiple firms raising their price targets for Emerson Electric, with Bank of America increasing its target from $130 to $155.
• Emerson Electric recently declared a quarterly dividend of $0.5275 per share, representing an annual yield of 1.5%.

Strs Ohio bought a new stake in Emerson Electric Co. (NYSE:EMR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 254,778 shares of the industrial products company's stock, valued at approximately $27,934,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its position in Emerson Electric by 6.9% during the 1st quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company's stock worth $1,675,403,000 after purchasing an additional 980,652 shares during the period. JPMorgan Chase & Co. lifted its stake in Emerson Electric by 9.3% in the 1st quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company's stock valued at $785,770,000 after buying an additional 611,105 shares in the last quarter. Nuveen LLC purchased a new position in shares of Emerson Electric during the 1st quarter worth $737,318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Emerson Electric by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,086,580 shares of the industrial products company's stock worth $448,053,000 after purchasing an additional 223,831 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $478,710,000 after purchasing an additional 339,355 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EMR. Barclays upgraded Emerson Electric from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $125.00 to $127.00 in a report on Thursday, August 7th. Citigroup lifted their price target on Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wells Fargo & Company lifted their price target on Emerson Electric from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. KeyCorp lifted their target price on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Bank of America lifted their price target on Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.39.

Emerson Electric Stock Up 1.4%

NYSE:EMR traded up $1.82 during trading hours on Wednesday, hitting $130.85. 1,684,663 shares of the stock traded hands, compared to its average volume of 3,116,750. The firm has a 50 day moving average price of $137.14 and a 200 day moving average price of $123.00. 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 fifty-two week low of $90.06 and a fifty-two week high of $150.27. The firm has a market cap of $73.64 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.64 and a beta of 1.30.

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 (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The company had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the business earned $1.43 EPS. The company's revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric's payout ratio is currently 45.38%.

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.