State of Michigan Retirement System Sells 1,200 Shares of Emerson Electric Co. (NYSE:EMR)

State of Michigan Retirement System decreased its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 154,720 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in Emerson Electric were worth $19,174,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Emerson Electric by 6.2% during the third quarter. State Street Corp now owns 25,810,167 shares of the industrial products company’s stock valued at $2,822,858,000 after acquiring an additional 1,507,980 shares during the period. Wellington Management Group LLP raised its holdings in Emerson Electric by 4.2% during the 3rd quarter. Wellington Management Group LLP now owns 14,552,544 shares of the industrial products company’s stock worth $1,591,612,000 after purchasing an additional 581,102 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Emerson Electric by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,453,075 shares of the industrial products company’s stock valued at $1,247,570,000 after purchasing an additional 162,985 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Emerson Electric by 5.7% during the 4th quarter. Nordea Investment Management AB now owns 7,013,550 shares of the industrial products company’s stock worth $871,083,000 after buying an additional 375,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Emerson Electric by 3.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,523,394 shares of the industrial products company’s stock worth $385,354,000 after buying an additional 132,186 shares during the last quarter. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $113.87 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.54 and a quick ratio of 1.17. The firm has a market cap of $64.21 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.49 and a beta of 1.34. Emerson Electric Co. has a one year low of $96.62 and a one year high of $134.85. The stock’s 50-day moving average is $124.19 and its 200-day moving average is $118.45.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.10. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. Equities analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.5275 per share. The ex-dividend date is Friday, February 14th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.85%. Emerson Electric’s dividend payout ratio is 50.36%.

Analysts Set New Price Targets

EMR has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Emerson Electric from $105.00 to $112.00 and gave the stock an “underweight” rating in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $138.00 price objective on shares of Emerson Electric in a research note on Thursday, February 6th. Wells Fargo & Company raised their target price on Emerson Electric from $140.00 to $142.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. KeyCorp upped their price target on Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Emerson Electric from $137.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and an average target price of $137.26.

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.