Emerson Electric’s (EMR) “Neutral” Rating Reiterated at Goldman Sachs Group
Goldman Sachs Group restated their neutral rating on shares of Emerson Electric (NYSE:EMR) in a research note issued to investors on Friday, MarketBeat reports. They currently have a $66.00 price target on the industrial products company’s stock.
Several other brokerages have also recently weighed in on EMR. Zacks Investment Research raised shares of Emerson Electric from a sell rating to a hold rating in a research report on Tuesday, October 31st. Cowen raised shares of Emerson Electric to a buy rating and set a $71.00 price target on the stock in a research report on Monday, October 23rd. Bank of America raised shares of Emerson Electric from a neutral rating to a buy rating and boosted their price target for the company from $64.44 to $79.00 in a research report on Tuesday, October 17th. J P Morgan Chase & Co assumed coverage on shares of Emerson Electric in a research report on Wednesday, November 29th. They set a neutral rating on the stock. Finally, Citigroup reissued a sell rating and set a $61.00 price target (up previously from $58.00) on shares of Emerson Electric in a research report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Emerson Electric presently has a consensus rating of Hold and a consensus target price of $65.86.
Shares of Emerson Electric (NYSE EMR) opened at $66.41 on Friday. Emerson Electric has a one year low of $55.40 and a one year high of $67.79. The company has a current ratio of 1.64, a quick ratio of 1.30 and a debt-to-equity ratio of 0.43. The stock has a market cap 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.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. sell-side analysts forecast that Emerson Electric will post 2.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were issued a $0.485 dividend. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, November 16th. Emerson Electric’s payout ratio is 82.55%.
In other Emerson Electric news, VP Frank J. Dellaquila sold 2,100 shares of the business’s 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 sale, the vice president now directly owns 178,743 shares in the company, valued at $11,577,184.11. The sale 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 business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $64.78, for a total transaction of $512,345.02. Following the sale, the vice president now owns 44,628 shares in the company, valued at $2,891,001.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,499 shares of company stock worth $1,272,235. 0.79% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new stake in shares of Emerson Electric during the second quarter worth approximately $109,000. Intellectus Partners LLC increased its stake in shares of Emerson Electric by 0.3% during the second 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. purchased a new stake in shares of Emerson Electric during the first quarter worth approximately $127,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Emerson Electric during the second quarter worth approximately $129,000. Finally, AT Bancorp purchased a new stake in shares of Emerson Electric during the second quarter worth approximately $139,000. Institutional investors own 69.00% of the company’s stock.
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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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