Teacher Retirement System of Texas boosted its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 79.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,844 shares of the industrial products company's stock after purchasing an additional 93,598 shares during the period. Teacher Retirement System of Texas' holdings in Emerson Electric were worth $23,117,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in EMR. Stokes Family Office LLC increased its stake in shares of Emerson Electric by 94.8% in the fourth 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. grew its stake in shares of Emerson Electric by 7.7% in the 4th quarter. Clark Capital Management Group Inc. now owns 6,042 shares of the industrial products company's stock valued at $749,000 after purchasing an additional 434 shares during the period. World Investment Advisors boosted its holdings in shares of Emerson Electric by 41.2% in the 4th quarter. World Investment Advisors now owns 20,823 shares of the industrial products company's stock worth $2,581,000 after acquiring an additional 6,079 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Emerson Electric by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company's stock worth $1,443,725,000 after acquiring an additional 232,540 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Emerson Electric in the 4th quarter worth approximately $297,947,000. Institutional investors and hedge funds own 74.30% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on EMR. Royal Bank Of Canada upped their price objective on Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Citigroup increased their price target on Emerson Electric from $133.00 to $146.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price objective on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. KeyCorp increased their price target on Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Wall Street Zen raised Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $138.61.
Check Out Our Latest Stock Analysis on Emerson Electric
Insiders Place Their Bets
In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company's stock.
Emerson Electric Price Performance
Emerson Electric stock opened at $137.30 on Friday. Emerson Electric Co. has a one year low of $90.06 and a one year high of $139.90. The stock's fifty day moving average price is $121.74 and its two-hundred day moving average price is $118.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market cap of $77.23 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 2.71 and a beta of 1.29.
Emerson Electric (NYSE:EMR - Get Free Report) last announced 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. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The firm's revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. As a group, research analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.
Emerson Electric Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, May 16th. Emerson Electric's dividend payout ratio (DPR) is currently 50.48%.
Emerson Electric Profile
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Free Report)
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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