KeyCorp Boosts Emerson Electric (NYSE:EMR) Price Target to $150.00

Emerson Electric (NYSE:EMR) had its price objective upped by stock analysts at KeyCorp from $125.00 to $150.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective would indicate a potential upside of 19.54% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their price objective on Emerson Electric from $121.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Robert W. Baird dropped their price target on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Royal Bank of Canada raised their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Barclays raised their price target on shares of Emerson Electric from $112.00 to $118.00 and gave the company an “underweight” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.47.

Emerson Electric Price Performance

NYSE:EMR traded down $1.24 during mid-day trading on Friday, hitting $125.48. 513,336 shares of the stock traded hands, compared to its average volume of 2,939,452. The business’s 50-day moving average price is $111.72 and its 200 day moving average price is $118.47. The company has a market cap of $70.58 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.28. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25. Emerson Electric has a 12-month low of $90.06 and a 12-month high of $134.85.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. The business had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. On average, analysts expect that Emerson Electric will post 5.96 EPS for the current fiscal year.

Insider Transactions at Emerson Electric

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the sale, the chief executive officer now owns 164,957 shares in the company, valued at $18,694,576.81. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Emerson Electric

Several hedge funds have recently bought and sold shares of EMR. Vanguard Group Inc. lifted its holdings in Emerson Electric by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 53,536,974 shares of the industrial products company’s stock worth $6,634,837,000 after buying an additional 384,313 shares during the period. Wellington Management Group LLP grew its holdings in shares of Emerson Electric by 6.9% in the first quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock valued at $1,675,403,000 after purchasing an additional 980,652 shares during the period. Geode Capital Management LLC lifted its holdings in Emerson Electric by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company’s stock valued at $1,443,725,000 after acquiring an additional 232,540 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Emerson Electric by 9.3% in the first quarter. JPMorgan Chase & Co. now owns 7,166,817 shares of the industrial products company’s stock valued at $785,770,000 after buying an additional 611,105 shares during the last quarter. Finally, Norges Bank purchased a new position in Emerson Electric during the 4th quarter valued at about $885,886,000. Institutional investors own 74.30% of the company’s stock.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.