Emerson Electric (NYSE:EMR) Given New $153.00 Price Target at Royal Bank Of Canada

Emerson Electric (NYSE:EMR) had its price target reduced by equities researchers at Royal Bank Of Canada from $155.00 to $153.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 14.80% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Daiwa Capital Markets increased their price objective on shares of Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Jefferies Financial Group cut their price objective on shares of Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Barclays increased their price objective on shares of Emerson Electric from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Emerson Electric from $135.00 to $151.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $140.00 price objective (down previously from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.61.

Emerson Electric Trading Up 0.6%

EMR stock traded up $0.83 during mid-day trading on Thursday, reaching $133.28. The company had a trading volume of 741,405 shares, compared to its average volume of 3,067,543. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.63. The company has a market capitalization of $75.01 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.36 and a beta of 1.30. The firm has a 50 day moving average of $132.48 and a 200 day moving average of $129.32. Emerson Electric has a 12 month low of $90.06 and a 12 month high of $150.27.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share for the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The firm had revenue of $3.16 billion during the quarter. On average, equities analysts predict that Emerson Electric will post 5.96 earnings per share for the current fiscal year.

Emerson Electric declared that its board has initiated a stock buyback plan on Wednesday, November 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Emerson Electric

Institutional investors have recently bought and sold shares of the company. Saudi Central Bank purchased a new position in Emerson Electric during the first quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Emerson Electric during the first quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in Emerson Electric during the second quarter worth about $29,000. Winnow Wealth LLC purchased a new position in Emerson Electric during the second quarter worth about $34,000. Finally, PFS Partners LLC raised its stake in Emerson Electric by 65.9% during the second quarter. PFS Partners LLC now owns 272 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 108 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

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.