Illinois Municipal Retirement Fund Has $8.40 Million Position in Emerson Electric Co. (NYSE:EMR)

Illinois Municipal Retirement Fund grew its stake in Emerson Electric Co. (NYSE:EMR – Free Report) by 429.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,389 shares of the industrial products company’s stock after purchasing an additional 78,198 shares during the period. Illinois Municipal Retirement Fund’s holdings in Emerson Electric were worth $8,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its stake in shares of Emerson Electric by 105,280.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,417,593 shares of the industrial products company’s stock valued at $5,227,354,000 after purchasing an additional 54,365,954 shares in the last quarter. Morgan Stanley raised its holdings in Emerson Electric by 28.4% in the 4th quarter. Morgan Stanley now owns 11,835,398 shares of the industrial products company’s stock valued at $1,136,909,000 after buying an additional 2,621,089 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Emerson Electric by 0.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,698,627 shares of the industrial products company’s stock valued at $1,027,710,000 after buying an additional 50,408 shares during the last quarter. Geode Capital Management LLC raised its holdings in Emerson Electric by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 10,509,981 shares of the industrial products company’s stock valued at $1,007,719,000 after buying an additional 229,530 shares during the last quarter. Finally, Norges Bank bought a new position in Emerson Electric in the 4th quarter valued at approximately $702,606,000. 75.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Emerson Electric

In other news, VP Lisa Flavin sold 48,718 shares of Emerson Electric stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $89.65, for a total transaction of $4,367,568.70. Following the sale, the vice president now directly owns 51,748 shares in the company, valued at approximately $4,639,208.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Loop Capital dropped their price objective on shares of Emerson Electric from $115.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, April 11th. Wolfe Research upgraded shares of Emerson Electric from a “peer perform” rating to an “outperform” rating and set a $103.00 price target for the company in a report on Tuesday, April 18th. 888 restated a “buy” rating on shares of Emerson Electric in a report on Thursday, May 4th. Royal Bank of Canada raised their price target on shares of Emerson Electric from $103.00 to $111.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Wells Fargo & Company upgraded shares of Emerson Electric from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $105.00 in a report on Thursday, April 20th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and an average target price of $101.41.

Emerson Electric Price Performance

EMR opened at $95.55 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.38 and a quick ratio of 0.92. The company has a market capitalization of $54.61 billion, a price-to-earnings ratio of 4.18, a P/E/G ratio of 2.38 and a beta of 1.41. The firm’s fifty day moving average price is $88.45 and its two-hundred day moving average price is $86.05. Emerson Electric Co. has a 1 year low of $72.40 and a 1 year high of $99.65.

Emerson Electric (NYSE:EMR – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.20. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.89 billion. Emerson Electric had a net margin of 80.41% and a return on equity of 14.27%. As a group, analysts anticipate that Emerson Electric Co. will post 4.43 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 11th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, August 10th. Emerson Electric’s payout ratio is 9.09%.

Emerson Electric Profile

(Free Report)

Emerson Electric Co, a technology and engineering company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. The company operates through Automation Solutions, AspenTech, and Commercial & Residential Solutions segments.