State Board of Administration of Florida Retirement System Decreases Stake in Emerson Electric Co. (NYSE:EMR)
State Board of Administration of Florida Retirement System lowered its position in Emerson Electric Co. (NYSE:EMR) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 859,519 shares of the industrial products company’s stock after selling 6,601 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of Emerson Electric worth $57,347,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of EMR. Glassman Wealth Services raised its holdings in Emerson Electric by 240.7% during the first quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 284 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Emerson Electric by 80.3% in the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 196 shares during the period. Westside Investment Management Inc. acquired a new position in shares of Emerson Electric in the 2nd quarter valued at $34,000. Buffington Mohr McNeal acquired a new position in shares of Emerson Electric in the 1st quarter valued at $41,000. Finally, Rational Advisors LLC acquired a new position in shares of Emerson Electric in the 1st quarter valued at $41,000. Institutional investors own 70.17% of the company’s stock.
A number of brokerages have recently commented on EMR. Zacks Investment Research cut shares of Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 target price on the stock. in a report on Tuesday, July 23rd. Cowen reaffirmed a “buy” rating and issued a $72.00 target price on shares of Emerson Electric in a report on Friday, August 9th. Deutsche Bank cut their target price on shares of Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Morgan Stanley cut their target price on shares of Emerson Electric from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Credit Suisse Group dropped their price objective on shares of Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $72.71.
EMR traded up $0.68 during trading on Wednesday, hitting $58.66. The stock had a trading volume of 813,728 shares, compared to its average volume of 3,445,230. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.18. The firm has a market capitalization of $35.63 billion, a P/E ratio of 17.36, a PEG ratio of 1.94 and a beta of 1.32. The company’s 50-day moving average price is $63.21 and its 200 day moving average price is $66.25. Emerson Electric Co. has a twelve month low of $55.38 and a twelve month high of $79.70.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $0.94 EPS for the quarter, hitting the consensus estimate of $0.94. The company had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.82 billion. Emerson Electric had a net margin of 12.06% and a return on equity of 24.67%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. As a group, equities analysts expect that Emerson Electric Co. will post 3.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.96 annualized dividend and a dividend yield of 3.34%. Emerson Electric’s payout ratio is currently 57.99%.
Emerson Electric Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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