Stifel Nicolaus restated their buy rating on shares of Emerson Electric Co. (NYSE:EMR) in a research note issued to investors on Monday morning. The brokerage currently has a $67.00 target price on the industrial products company’s stock, up from their prior target price of $65.00.
A number of other equities research analysts have also recently commented on the stock. Goldman Sachs Group Inc upgraded shares of Emerson Electric from a sell rating to a neutral rating and set a $60.00 price target for the company in a report on Friday, January 27th. HSBC Holdings plc upgraded shares of Emerson Electric from a reduce rating to a hold rating and set a $55.00 price target for the company in a report on Friday, March 3rd. Zacks Investment Research upgraded shares of Emerson Electric from a hold rating to a buy rating and set a $71.00 price target for the company in a report on Tuesday, February 14th. Royal Bank of Canada restated a hold rating and issued a $55.00 price target on shares of Emerson Electric in a report on Wednesday, February 8th. Finally, Wells Fargo & Co restated a market perform rating on shares of Emerson Electric in a report on Wednesday, February 8th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average target price of $55.34.
Shares of Emerson Electric (NYSE:EMR) traded up 1.23% during trading on Monday, reaching $59.17. 815,596 shares of the company were exchanged. The stock’s 50-day moving average is $59.18 and its 200-day moving average is $58.13. Emerson Electric has a 52-week low of $48.45 and a 52-week high of $64.36. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of 25.28 and a beta of 1.17.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Emerson Electric had a net margin of 8.50% and a return on equity of 24.26%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $0.57 earnings per share. Equities research analysts predict that Emerson Electric will post $2.60 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 12th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, May 10th. Emerson Electric’s payout ratio is currently 77.73%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Architects Inc raised its position in Emerson Electric by 15.9% in the third quarter. Financial Architects Inc now owns 1,964 shares of the industrial products company’s stock worth $108,000 after buying an additional 270 shares during the last quarter. Northwest Quadrant Wealth Management LLC purchased a new position in Emerson Electric during the fourth quarter worth $111,000. Elgethun Capital Management bought a new stake in shares of Emerson Electric during the fourth quarter valued at approximately $114,000. First Command Financial Services Inc. raised its stake in shares of Emerson Electric by 18.9% in the first quarter. First Command Financial Services Inc. now owns 1,935 shares of the industrial products company’s stock valued at $116,000 after buying an additional 307 shares in the last quarter. Finally, RidgeWorth Capital Management LLC raised its stake in shares of Emerson Electric by 23.1% in the fourth quarter. RidgeWorth Capital Management LLC now owns 2,183 shares of the industrial products company’s stock valued at $122,000 after buying an additional 410 shares in the last quarter. 71.04% of the stock is currently 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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