Kentucky Retirement Systems Sells 306 Shares of Emerson Electric Co. (NYSE:EMR)

Kentucky Retirement Systems reduced its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,111 shares of the industrial products company’s stock after selling 306 shares during the quarter. Kentucky Retirement Systems’ holdings in Emerson Electric were worth $4,749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in Emerson Electric in the 1st quarter worth approximately $31,000. Meeder Asset Management Inc. raised its stake in shares of Emerson Electric by 361.5% in the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 235 shares during the last quarter. Security National Bank bought a new position in shares of Emerson Electric during the fourth quarter valued at $29,000. Tributary Capital Management LLC purchased a new stake in shares of Emerson Electric during the first quarter valued at $35,000. Finally, Cape Investment Advisory Inc. increased its holdings in Emerson Electric by 148.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 315 shares of the industrial products company’s stock worth $31,000 after buying an additional 188 shares in the last quarter. Institutional investors own 74.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EMR shares. Robert W. Baird raised their price target on shares of Emerson Electric from $116.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Barclays lowered their price target on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. StockNews.com cut Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada cut their price target on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Emerson Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.29.

Emerson Electric Trading Up 2.2 %

EMR stock opened at $105.93 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. Emerson Electric Co. has a 1-year low of $83.10 and a 1-year high of $119.53. The business has a 50 day simple moving average of $107.23 and a two-hundred day simple moving average of $109.47. The company has a market capitalization of $60.60 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 1.66 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the company posted $1.29 earnings per share. Emerson Electric’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts anticipate that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

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.