Emerson Electric Company (EMR) Receives $64.92 Average Price Target from Analysts
Emerson Electric Company (NYSE:EMR) has been given a consensus rating of “Hold” by the twenty research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $64.92.
EMR has been the subject of a number of recent research reports. Cowen and Company raised Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a research note on Monday, October 23rd. Citigroup Inc. reaffirmed a “sell” rating and set a $61.00 price target (up from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. Bank of America Corporation raised Emerson Electric from a “neutral” rating to a “buy” rating and raised their price target for the stock from $64.44 to $79.00 in a research note on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Finally, Zacks Investment Research downgraded Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.79% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in Emerson Electric in the 2nd quarter worth approximately $109,000. Intellectus Partners LLC increased its position in Emerson Electric by 0.3% in the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after buying an additional 7 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Emerson Electric in the 1st quarter worth approximately $127,000. Mountain Capital Investment Advisors Inc bought a new position in Emerson Electric in the 2nd quarter worth approximately $129,000. Finally, AT Bancorp bought a new position in Emerson Electric in the 2nd quarter worth approximately $139,000. 69.35% of the stock is currently owned by institutional investors.
Shares of Emerson Electric (NYSE EMR) traded up $0.09 during midday trading on Thursday, reaching $60.35. The company’s stock had a trading volume of 3,277,548 shares, compared to its average volume of 3,402,212. Emerson Electric has a 12-month low of $53.92 and a 12-month high of $67.79. The firm has a market cap of $38,630.00, a price-to-earnings ratio of 23.20, a PEG ratio of 2.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.64 and a quick ratio of 1.30.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company posted $0.74 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. equities research analysts forecast that Emerson Electric will post 2.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a $0.485 dividend. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 3.21%. The ex-dividend date is Thursday, November 16th. Emerson Electric’s payout ratio is currently 75.78%.
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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