Louisiana State Employees Retirement System Cuts Stake in Emerson Electric Co. (NYSE:EMR)

Louisiana State Employees Retirement System reduced its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,400 shares of the industrial products company’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Emerson Electric were worth $3,569,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EMR. Accordant Advisory Group Inc purchased a new stake in shares of Emerson Electric in the 1st quarter valued at approximately $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Emerson Electric in the 1st quarter valued at approximately $31,000. Security National Bank purchased a new stake in shares of Emerson Electric in the 4th quarter valued at approximately $29,000. Tributary Capital Management LLC purchased a new stake in shares of Emerson Electric in the 1st quarter valued at approximately $35,000. Finally, Cape Investment Advisory Inc. increased its position in shares of Emerson Electric by 148.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 315 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 188 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

Shares of EMR stock traded up $0.19 during mid-day trading on Friday, hitting $104.55. The stock had a trading volume of 1,089,535 shares, compared to its average volume of 2,682,129. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.18 and a quick ratio of 0.87. The company’s 50-day simple moving average is $109.82 and its 200-day simple moving average is $109.71. The firm has a market cap of $59.81 billion, a PE ratio of 5.64, a PEG ratio of 1.93 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. Sell-side analysts anticipate that Emerson Electric Co. will post 5.47 earnings per share for the current year.

Emerson Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is currently 11.24%.

Analysts Set New Price Targets

EMR has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price objective on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Loop Capital upped their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 10th. JPMorgan Chase & Co. lowered 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 report on Wednesday, August 14th. Redburn Atlantic started coverage on Emerson Electric in a report on Monday, July 8th. They issued a “buy” rating and a $135.00 target price for the company. Finally, Mizuho raised their price target on Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

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.