Emerson Electric Company (EMR) Shares Gap Down to $59.59
Shares of Emerson Electric Company (NYSE:EMR) gapped down prior to trading on Friday . The stock had previously closed at $61.13, but opened at $59.59. Emerson Electric shares last traded at $59.02, with a volume of 10266600 shares traded.
EMR has been the subject of several analyst reports. Cowen and Company raised shares of Emerson Electric to a “buy” rating and set a $71.00 price objective for the company in a research note on Monday, October 23rd. Bank of America Corporation raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $64.44 to $79.00 in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a research note on Thursday, October 12th. Morgan Stanley reissued an “equal weight” rating and issued a $67.00 price objective (up previously from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $65.14.
The firm has a market cap of $38,305.20, a price-to-earnings ratio of 23.20, a PEG ratio of 2.73 and a beta of 1.24. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. Emerson Electric’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. analysts forecast that Emerson Electric Company will post 2.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.24%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, November 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 82.55%.
In related news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in Emerson Electric during the second quarter valued at approximately $109,000. Intellectus Partners LLC increased its holdings in Emerson Electric by 0.3% during the second quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after buying an additional 7 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Emerson Electric during the first quarter valued at approximately $127,000. Mountain Capital Investment Advisors Inc purchased a new position in Emerson Electric during the second quarter valued at approximately $129,000. Finally, AT Bancorp purchased a new position in Emerson Electric during the second quarter valued at approximately $139,000. 70.18% of the stock is currently owned by institutional investors.
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Emerson Electric Company Profile
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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