State of Alaska Department of Revenue Grows Stock Position in Emerson Electric Co. (NYSE:EMR)

State of Alaska Department of Revenue lifted its stake in Emerson Electric Co. (NYSE:EMR) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,951 shares of the industrial products company’s stock after buying an additional 2,650 shares during the period. State of Alaska Department of Revenue’s holdings in Emerson Electric were worth $7,431,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new stake in shares of Emerson Electric in the first quarter worth about $31,000. Meeder Asset Management Inc. boosted its position in Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 235 shares in the last quarter. Tributary Capital Management LLC bought a new stake in Emerson Electric during the 1st quarter valued at approximately $35,000. Versant Capital Management Inc boosted its position in Emerson Electric by 471.9% during the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 269 shares in the last quarter. Finally, Matrix Trust Co bought a new stake in Emerson Electric during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.

Emerson Electric Price Performance

Shares of EMR opened at $108.78 on Tuesday. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The firm has a fifty day simple moving average of $106.29 and a two-hundred day simple moving average of $108.93. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The firm has a market cap of $62.23 billion, a PE ratio of 5.82, a P/E/G ratio of 1.68 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

EMR has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Stephens lowered shares of Emerson Electric from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $135.00 to $120.00 in a report on Wednesday, October 16th. Redburn Atlantic initiated coverage on shares of Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 price objective for the company. StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Barclays decreased their price objective on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.47.

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.