Emerson Electric (EMR) Receives “Buy” Rating from Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of Emerson Electric (NYSE:EMR) in a research note published on Monday. The brokerage currently has a $75.00 price objective on the industrial products company’s stock.
A number of other equities analysts have also commented on the company. Cowen raised Emerson Electric to a buy rating and set a $71.00 price target for the company in a report on Monday, October 23rd. Bank of America 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 report on Tuesday, October 17th. Morgan Stanley reaffirmed an equal weight rating and issued a $67.00 price target (up from $64.00) on shares of Emerson Electric in a report on Monday, October 2nd. Zacks Investment Research raised Emerson Electric from a sell rating to a hold rating in a report on Tuesday, October 31st. Finally, Robert W. Baird reaffirmed a hold rating and issued a $70.00 price target on shares of Emerson Electric in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $65.86.
Shares of Emerson Electric (EMR) traded down $0.14 during midday trading on Monday, reaching $66.41. The company’s stock had a trading volume of 2,291,900 shares, compared to its average volume of 3,432,599. Emerson Electric has a 1-year low of $55.40 and a 1-year high of $67.79. The company has a market capitalization of $42,713.11, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 3.13 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 announced its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. Emerson Electric had a return on equity of 20.47% and a net margin of 9.94%. The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the prior year, the company earned $0.74 earnings per share. Emerson Electric’s revenue was up 12.8% compared to the same quarter last year. equities research analysts anticipate that Emerson Electric will post 2.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were paid a dividend of $0.485 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, November 16th. This represents a $1.94 annualized dividend and a yield of 2.92%. Emerson Electric’s dividend payout ratio (DPR) is currently 82.55%.
In related news, VP Bell Katherine Button sold 7,909 shares of Emerson Electric stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $64.78, for a total transaction of $512,345.02. Following the completion of the sale, the vice president now owns 44,628 shares of the company’s stock, valued at $2,891,001.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $65.74, for a total value of $623,872.60. Following the sale, the chief operating officer now owns 168,984 shares in the company, valued at approximately $11,109,008.16. The disclosure for this sale can be found here. Insiders have sold 19,499 shares of company stock valued at $1,272,235 in the last three months. 0.79% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its position in Emerson Electric by 137.5% during the third quarter. Chicago Partners Investment Group LLC now owns 5,700 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 3,300 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Emerson Electric during the third quarter valued at about $2,167,000. Public Employees Retirement System of Ohio raised its position in Emerson Electric by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 464,417 shares of the industrial products company’s stock valued at $29,184,000 after purchasing an additional 1,622 shares in the last quarter. GSA Capital Partners LLP raised its position in Emerson Electric by 11.0% during the third quarter. GSA Capital Partners LLP now owns 12,744 shares of the industrial products company’s stock valued at $801,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Coastline Trust Co increased its holdings in shares of Emerson Electric by 2.8% in the third quarter. Coastline Trust Co now owns 36,225 shares of the industrial products company’s stock worth $2,276,000 after buying an additional 984 shares during the period. Institutional investors and hedge funds own 69.00% of the company’s stock.
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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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