Bank of America Issues Positive Forecast for Emerson Electric (NYSE:EMR) Stock Price

Emerson Electric (NYSE:EMR) had its price target hoisted by equities research analysts at Bank of America from $130.00 to $155.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Bank of America‘s target price suggests a potential upside of 14.73% from the stock’s previous close.

EMR has been the subject of several other reports. Barclays boosted their price target on Emerson Electric from $112.00 to $118.00 and gave the company an “underweight” rating in a research note on Monday, June 9th. Wall Street Zen raised Emerson Electric from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Robert W. Baird cut their price objective on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Citigroup boosted their target price on shares of Emerson Electric from $133.00 to $146.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, KeyCorp increased their price target on Emerson Electric from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.61.

Emerson Electric Stock Performance

Shares of EMR stock opened at $135.10 on Wednesday. The company has a market capitalization of $75.99 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 2.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80. Emerson Electric has a 52 week low of $90.06 and a 52 week high of $135.96. The company has a 50-day simple moving average of $119.72 and a 200 day simple moving average of $118.20.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.41 by $0.07. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that Emerson Electric will post 5.96 earnings per share for the current year.

Insider Transactions at Emerson Electric

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the sale, the chief executive officer owned 164,957 shares of the company’s stock, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Emerson Electric

A number of hedge funds have recently added to or reduced their stakes in EMR. Orion Capital Management LLC bought a new position in shares of Emerson Electric in the fourth quarter worth about $25,000. Saudi Central Bank purchased a new position in Emerson Electric during the first quarter worth approximately $25,000. Vega Investment Solutions purchased a new stake in Emerson Electric during the 4th quarter valued at about $27,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Emerson Electric during the first quarter valued at about $27,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Emerson Electric during the fourth quarter worth about $28,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Company Profile

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.