State of Michigan Retirement System Has $19.17 Million Stake in Emerson Electric Co. (NYSE:EMR)

State of Michigan Retirement System lowered its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Emerson Electric during the 3rd quarter worth $25,000. Stephens Consulting LLC acquired a new position in Emerson Electric during the 4th quarter worth $25,000. Sugar Maple Asset Management LLC bought a new stake in Emerson Electric during the fourth quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Emerson Electric in the third quarter valued at about $29,000. Finally, YANKCOM Partnership bought a new position in shares of Emerson Electric in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Down 2.8 %

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

Emerson Electric (NYSE:EMR) last posted its quarterly earnings data 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 research analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have issued reports on EMR shares. UBS Group began coverage on Emerson Electric in a report on Wednesday, November 13th. They issued a “neutral” rating and a $135.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Emerson Electric from $140.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Barclays increased their price target on shares of Emerson Electric from $116.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Loop Capital boosted their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $138.00 target price on shares of Emerson Electric in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.