Wells Fargo & Company Reiterates Market Perform Rating for Emerson Electric Company (EMR)
Wells Fargo & Company reiterated their market perform rating on shares of Emerson Electric Company (NYSE:EMR) in a report published on Wednesday morning, The Fly reports. They currently have a $65.00 price target on the stock, up from their previous price target of $60.00.
A number of other analysts have also weighed in on EMR. Cowen and Company raised shares of Emerson Electric from a market perform rating to an outperform rating in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of Emerson Electric from a hold rating to a sell rating in a report on Tuesday, October 17th. Royal Bank Of Canada reaffirmed a sector perform rating and set a $62.00 target price (up previously from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank reaffirmed a sell rating and set a $53.00 target price on shares of Emerson Electric in a report on Friday, August 11th. Finally, Morgan Stanley reaffirmed an overweight rating on shares of Emerson Electric in a report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of C$65.14.
Emerson Electric (EMR) traded up C$0.13 during midday trading on Wednesday, hitting C$61.61. 3,610,000 shares of the stock traded hands, compared to its average volume of 3,648,008. Emerson Electric has a one year low of C$53.92 and a one year high of C$67.79. The company has a current ratio of 1.64, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $39,431.63, a price-to-earnings ratio of 23.88, a P/E/G ratio of 2.81 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, November 7th. The company reported C$0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company had revenue of C$4.44 billion for the quarter, compared to analyst estimates of C$4.43 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. equities research analysts expect that Emerson Electric will post 2.9 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Thursday, November 16th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s payout ratio is currently 81.70%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of C$58.99, for a total value of C$117,980.00. Following the completion of the transaction, the insider now owns 64,290 shares of the company’s stock, valued at approximately C$3,792,467.10. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.79% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Fagan Associates Inc. boosted its stake in shares of Emerson Electric by 19.3% in the 2nd quarter. Fagan Associates Inc. now owns 5,975 shares of the company’s stock valued at $356,000 after purchasing an additional 968 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Emerson Electric by 6.6% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the company’s stock valued at $601,000 after purchasing an additional 620 shares in the last quarter. Andra AP fonden boosted its stake in shares of Emerson Electric by 5.2% in the 2nd quarter. Andra AP fonden now owns 95,300 shares of the company’s stock valued at $5,682,000 after purchasing an additional 4,700 shares in the last quarter. Lipe & Dalton boosted its stake in shares of Emerson Electric by 1.3% in the 2nd quarter. Lipe & Dalton now owns 42,125 shares of the company’s stock valued at $2,511,000 after purchasing an additional 560 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Emerson Electric by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the company’s stock valued at $2,615,777,000 after purchasing an additional 2,404,844 shares in the last quarter. 70.14% of the stock is owned by institutional investors.
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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