Vetr Inc. Lowers Emerson Electric Co. (EMR) to Strong Sell
Emerson Electric Co. (NYSE:EMR) was downgraded by equities researchers at Vetr from a “sell” rating to a “strong sell” rating in a report released on Monday. They currently have a $47.31 price objective on the stock. Vetr‘s price objective would indicate a potential downside of 12.06% from the stock’s previous close.
EMR has been the subject of several other reports. Berenberg Bank assumed coverage on Emerson Electric in a research report on Monday. They issued a “sell” rating and a $41.00 target price for the company. Stifel Nicolaus dropped their target price on Emerson Electric from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Barclays PLC dropped their target price on Emerson Electric from $55.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded Emerson Electric from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Finally, Citigroup Inc. dropped their target price on Emerson Electric from $49.00 to $48.00 and set a “sell” rating for the company in a research report on Wednesday, August 3rd. Seven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $51.91.
Emerson Electric (NYSE:EMR) traded down 1.30% during trading on Monday, hitting $53.80. 3,814,274 shares of the stock traded hands. Emerson Electric has a 52-week low of $41.25 and a 52-week high of $56.82. The stock has a market cap of $34.62 billion, a P/E ratio of 19.05 and a beta of 1.19. The stock has a 50 day moving average price of $52.81 and a 200-day moving average price of $53.44.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by $0.04. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. On average, analysts anticipate that Emerson Electric will post $2.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Wednesday, August 10th. Emerson Electric’s payout ratio is currently 67.38%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Windward Capital Management Co. CA acquired a new position in shares of Emerson Electric during the first quarter worth $250,000. OLD National Bancorp IN raised its position in shares of Emerson Electric by 2.5% in the first quarter. OLD National Bancorp IN now owns 60,394 shares of the company’s stock worth $3,284,000 after buying an additional 1,478 shares in the last quarter. Murphy Pohlad Asset Management LLC raised its position in shares of Emerson Electric by 2.9% in the first quarter. Murphy Pohlad Asset Management LLC now owns 63,641 shares of the company’s stock worth $3,460,000 after buying an additional 1,785 shares in the last quarter. Bridges Investment Management Inc. raised its position in shares of Emerson Electric by 29.4% in the first quarter. Bridges Investment Management Inc. now owns 18,537 shares of the company’s stock worth $1,027,000 after buying an additional 4,214 shares in the last quarter. Finally, Lincluden Management Ltd. raised its position in shares of Emerson Electric by 11.0% in the first quarter. Lincluden Management Ltd. now owns 89,343 shares of the company’s stock worth $4,858,000 after buying an additional 8,860 shares in the last quarter. 69.40% of the stock is currently owned by institutional investors and hedge funds.
About Emerson Electric
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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