Emerson Electric Company (EMR) Rating Reiterated by Morgan Stanley
Emerson Electric Company (NYSE:EMR)‘s stock had its “equal weight” rating restated by equities researchers at Morgan Stanley in a report released on Monday. They presently have a $67.00 target price on the industrial products company’s stock, up from their prior target price of $64.00. Morgan Stanley’s price target indicates a potential upside of 5.80% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on EMR. BidaskClub cut Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research report on Wednesday, July 19th. Royal Bank Of Canada reiterated a “hold” rating and issued a $62.00 target price on shares of Emerson Electric in a research note on Tuesday, June 6th. Berenberg Bank reiterated a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a research note on Friday, August 11th. Finally, JMP Securities assumed coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 target price on the stock. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $61.02.
Emerson Electric (EMR) opened at 63.33 on Monday. Emerson Electric has a 12 month low of $49.22 and a 12 month high of $64.36. The company has a 50-day moving average price of $60.75 and a 200 day moving average price of $59.81. The stock has a market capitalization of $40.53 billion, a price-to-earnings ratio of 28.26 and a beta of 1.22.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the business earned $0.68 earnings per share. Emerson Electric’s revenue was up 9.9% compared to the same quarter last year. Equities analysts predict that Emerson Electric will post $2.61 earnings per share for the current year.
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In other news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.79% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Pensionfund DSM Netherlands acquired a new position in shares of Emerson Electric during the 3rd quarter valued at $3,833,000. Park National Corp OH increased its holdings in Emerson Electric by 0.7% in the 3rd quarter. Park National Corp OH now owns 372,337 shares of the industrial products company’s stock valued at $23,398,000 after purchasing an additional 2,545 shares in the last quarter. Perpetual Ltd acquired a new stake in Emerson Electric in the 2nd quarter valued at $298,000. W. E. Donoghue & Co. LLC acquired a new stake in Emerson Electric in the 2nd quarter valued at $15,702,000. Finally, Griffin Asset Management Inc. acquired a new stake in Emerson Electric in the 2nd quarter valued at $4,307,000. Institutional investors and hedge funds own 70.03% of the company’s stock.
About Emerson Electric
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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