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

State of New Jersey Common Pension Fund D reduced its stake in Emerson Electric Co. (NYSE:EMR) by 34.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,389 shares of the industrial products company’s stock after selling 112,645 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Emerson Electric were worth $23,176,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Thrive Wealth Management LLC grew its holdings in Emerson Electric by 4.1% in the 2nd quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock valued at $255,000 after buying an additional 91 shares during the period. LCM Capital Management Inc grew its holdings in Emerson Electric by 1.4% in the second quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 91 shares during the period. Sabal Trust CO raised its stake in Emerson Electric by 2.2% during the second quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 93 shares during the period. Catalyst Financial Partners LLC boosted its holdings in shares of Emerson Electric by 3.7% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 94 shares during the last quarter. Finally, PFG Advisors grew its stake in shares of Emerson Electric by 3.8% during the 1st quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock valued at $294,000 after buying an additional 96 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on EMR. Wells Fargo & Company reduced their target price on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Redburn Atlantic began coverage on Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 price objective on the stock. Finally, Robert W. Baird upped their price target on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $124.06.

Emerson Electric Stock Up 1.6 %

EMR stock opened at $101.47 on Friday. The firm has a fifty day moving average price of $107.96 and a two-hundred day moving average price of $109.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The firm has a market cap of $58.05 billion, a price-to-earnings ratio of 5.43, a PEG ratio of 1.63 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. Emerson Electric’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.29 earnings per share. Research analysts predict that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 2.07%. Emerson Electric’s payout ratio is currently 11.24%.

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.