Emerson Electric Company (NYSE:EMR)‘s stock had its “buy” rating reaffirmed by Stifel Nicolaus in a research report issued on Thursday.
Several other equities research analysts have also commented on the stock. JMP Securities started coverage on shares of Emerson Electric in a research report on Monday, June 19th. They set an “outperform” rating and a $70.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Emerson Electric in a research report on Tuesday, July 11th. BidaskClub raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Citigroup Inc. reissued a “sell” rating and issued a $61.00 target price (up from $58.00) on shares of Emerson Electric in a report on Monday. Finally, Berenberg Bank reissued a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a report on Friday, August 11th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $60.71.
Emerson Electric (NYSE EMR) opened at 63.43 on Thursday. The stock has a 50 day moving average of $61.62 and a 200-day moving average of $60.01. Emerson Electric has a 52-week low of $49.22 and a 52-week high of $64.36. The company has a market capitalization of $40.60 billion, a price-to-earnings ratio of 28.30 and a beta of 1.22.
Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Emerson Electric will post $2.60 earnings per share for the current fiscal year.
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In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the transaction, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Intellectus Partners LLC boosted its stake in Emerson Electric by 0.3% in the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 7 shares during the period. Washington Trust Bank boosted its stake in Emerson Electric by 0.4% in the 2nd quarter. Washington Trust Bank now owns 4,040 shares of the industrial products company’s stock worth $241,000 after purchasing an additional 16 shares during the period. RB Capital Management LLC boosted its stake in Emerson Electric by 0.6% in the 2nd quarter. RB Capital Management LLC now owns 4,475 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 26 shares during the period. Parallel Advisors LLC boosted its stake in Emerson Electric by 0.5% in the 2nd quarter. Parallel Advisors LLC now owns 4,892 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 26 shares during the period. Finally, Guardian Life Insurance Co. of America boosted its stake in Emerson Electric by 1.1% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,491 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 70.01% of the company’s stock.
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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