State of New Jersey Common Pension Fund D Has $8.35 Million Holdings in Emerson Electric Company (EMR)
State of New Jersey Common Pension Fund D raised its position in shares of Emerson Electric Company (NYSE:EMR) by 12.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,000 shares of the industrial products company’s stock after purchasing an additional 15,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Emerson Electric were worth $8,347,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Central Bank & Trust Co. lifted its stake in shares of Emerson Electric by 31.3% in the 1st quarter. Central Bank & Trust Co. now owns 2,100 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 500 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Emerson Electric in the 1st quarter worth approximately $127,000. Harbour Capital Advisors LLC acquired a new stake in shares of Emerson Electric in the 1st quarter worth approximately $147,000. Guardian Life Insurance Co. of America lifted its stake in shares of Emerson Electric by 1.1% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 28 shares during the period. Finally, Perkins Coie Trust Co acquired a new stake in shares of Emerson Electric in the 2nd quarter worth approximately $150,000. 70.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Emerson Electric Company (NYSE EMR) opened at 63.44 on Friday. The company has a 50 day moving average of $59.86 and a 200-day moving average of $59.57. Emerson Electric Company has a 12-month low of $49.22 and a 12-month high of $64.36. The company has a market capitalization of $40.60 billion, a P/E ratio of 28.31 and a beta of 1.18.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. On average, equities analysts anticipate that Emerson Electric Company will post $2.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 11th were given a $0.48 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.03%. Emerson Electric’s dividend payout ratio is 85.33%.
In related news, insider Robert T. Sharp sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the sale, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.79% of the company’s stock.
A number of brokerages have recently weighed in on EMR. BidaskClub lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a research note on Friday, August 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $62.00 price target (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a research note on Wednesday, July 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Emerson Electric has an average rating of “Hold” and a consensus target price of $60.52.
Emerson Electric Company Profile
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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