BidaskClub lowered shares of Emerson Electric Company (NYSE:EMR) from a hold rating to a sell rating in a report published on Friday morning.
EMR has been the topic of several other research reports. Berenberg Bank reaffirmed a sell rating and set a $53.00 price target on shares of Emerson Electric Company in a research report on Wednesday, February 22nd. Zacks Investment Research raised Emerson Electric Company from a hold rating to a buy rating and set a $67.00 price target on the stock in a research report on Thursday, March 2nd. HSBC Holdings plc raised Emerson Electric Company from a reduce rating to a hold rating and set a $55.00 price target on the stock in a research report on Friday, March 3rd. Royal Bank Of Canada reaffirmed a hold rating and set a $58.00 price target on shares of Emerson Electric Company in a research report on Sunday, March 12th. Finally, Stifel Nicolaus boosted their price target on Emerson Electric Company from $63.00 to $70.00 and gave the stock a buy rating in a research report on Thursday, February 9th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the stock. Emerson Electric Company presently has an average rating of Hold and a consensus price target of $55.57.
Emerson Electric Company (EMR) opened at 60.84 on Friday. The firm’s 50-day moving average price is $59.29 and its 200 day moving average price is $58.97. Emerson Electric Company has a one year low of $48.45 and a one year high of $64.36. The firm has a market cap of $39.21 billion, a P/E ratio of 25.99 and a beta of 1.17.
Emerson Electric Company (NYSE:EMR) last released its earnings results on Tuesday, May 2nd. The industrial products company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Emerson Electric Company had a return on equity of 23.37% and a net margin of 8.72%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. On average, equities research analysts forecast that Emerson Electric Company will post $2.60 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 12th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Wednesday, May 10th. Emerson Electric Company’s dividend payout ratio is 81.70%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Emerson Electric Company by 2,235.9% in the first quarter. BlackRock Inc. now owns 40,176,076 shares of the industrial products company’s stock worth $2,404,940,000 after buying an additional 38,456,143 shares in the last quarter. Norges Bank purchased a new position in shares of Emerson Electric Company during the fourth quarter worth approximately $269,944,000. Vanguard Group Inc. raised its position in shares of Emerson Electric Company by 5.8% in the first quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after buying an additional 2,404,844 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Emerson Electric Company by 135.9% in the first quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after buying an additional 1,706,810 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Emerson Electric Company during the fourth quarter worth approximately $88,748,000. 69.86% of the stock is currently owned by hedge funds and other institutional investors.
About Emerson Electric Company
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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