Stifel Nicolaus Reaffirms Buy Rating for Emerson Electric (EMR)
Stifel Nicolaus reiterated their buy rating on shares of Emerson Electric (NYSE:EMR) in a research note issued to investors on Monday morning. They currently have a $75.00 price objective on the industrial products company’s stock.
Several other equities research analysts have also commented on the company. Edward Jones lowered Emerson Electric from a buy rating to a hold rating in a research note on Friday, November 17th. Cowen upgraded Emerson Electric to a buy rating and set a $71.00 price objective for the company in a research note on Monday, October 23rd. Royal Bank of Canada restated a neutral rating on shares of Emerson Electric in a research note on Thursday, November 9th. Citigroup reiterated a sell rating and issued a $61.00 price target (up previously from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. Finally, Wells Fargo & Company reiterated a market perform rating and issued a $65.00 price target (up previously from $60.00) on shares of Emerson Electric in a research note on Wednesday, November 8th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $65.86.
Shares of Emerson Electric (EMR) traded up $0.53 on Monday, reaching $67.20. 3,306,800 shares of the company’s stock were exchanged, compared to its average volume of 3,429,257. The stock has a market cap of $42,790.12, a price-to-earnings ratio of 25.84, a PEG ratio of 2.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64. Emerson Electric has a 1-year low of $55.40 and a 1-year high of $67.79.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Thursday, November 16th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is 82.55%.
In other Emerson Electric news, VP Frank J. Dellaquila sold 2,100 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total transaction of $136,017.00. Following the completion of the transaction, the vice president now owns 178,743 shares of the company’s stock, valued at approximately $11,577,184.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bell Katherine Button sold 7,909 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $64.78, for a total transaction of $512,345.02. Following the transaction, the vice president now directly owns 44,628 shares of the company’s stock, valued at approximately $2,891,001.84. The disclosure for this sale can be found here. Insiders have sold a total of 27,017 shares of company stock valued at $1,771,129 in the last three months. Insiders own 0.79% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new stake in Emerson Electric in the 2nd quarter worth about $109,000. Intellectus Partners LLC raised 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 purchasing an additional 7 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in Emerson Electric in the 2nd quarter worth about $129,000. AT Bancorp purchased a new stake in Emerson Electric in the 2nd quarter worth about $139,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Emerson Electric in the 1st quarter worth about $147,000. 69.00% of the stock is owned by institutional investors and hedge funds.
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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