Emerson Electric Company (NYSE:EMR) was upgraded by stock analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, October 17th.
A number of other equities research analysts also recently commented on the company. JMP Securities initiated coverage on Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price objective for the company. Citigroup Inc. restated a “sell” rating and issued a $61.00 target price (up previously from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price objective on shares of Emerson Electric in a report on Wednesday, July 19th. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Finally, Bank of America Corporation raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and increased their target price for the stock from $64.44 to $79.00 in a research report on Tuesday, October 17th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $62.86.
Emerson Electric (NYSE:EMR) traded up 1.33% during mid-day trading on Tuesday, hitting $67.72. The company had a trading volume of 1,915,329 shares. The company has a 50-day moving average price of $63.43 and a 200 day moving average price of $60.43. The company has a market capitalization of $43.34 billion, a P/E ratio of 30.22 and a beta of 1.22. Emerson Electric has a 52-week low of $49.38 and a 52-week high of $67.79.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. On average, analysts forecast that Emerson Electric will post $2.61 EPS for the current fiscal year.
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In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction 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 completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in shares of Emerson Electric in the 2nd quarter valued at $109,000. Intellectus Partners LLC grew its holdings in shares of Emerson Electric by 0.3% in the 2nd 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. acquired a new position in shares of Emerson Electric in the 1st quarter valued at $127,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Emerson Electric in the 2nd quarter valued at $129,000. Finally, AT Bancorp acquired a new position in shares of Emerson Electric in the 2nd quarter valued at $139,000. 70.04% of the stock is owned by hedge funds and other institutional investors.
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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