Emerson Electric (NYSE:EMR) Price Target Raised to $135.00 at Wells Fargo & Company

Emerson Electric (NYSE:EMR) had its price target raised by Wells Fargo & Company from $128.00 to $135.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Other analysts have also issued research reports about the company. Robert W. Baird boosted their price target on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a report on Monday. JPMorgan Chase & Co. downgraded Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Oppenheimer lifted their price objective on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Emerson Electric from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley assumed coverage on shares of Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.65.

Emerson Electric Trading Down 0.9 %

Shares of NYSE:EMR traded down $1.15 during trading hours on Wednesday, hitting $125.71. 1,029,384 shares of the company’s stock traded hands, compared to its average volume of 2,720,509. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. The business has a fifty day moving average price of $107.50 and a 200-day moving average price of $109.05. Emerson Electric has a 1 year low of $84.61 and a 1 year high of $127.74. The firm has a market capitalization of $71.99 billion, a P/E ratio of 42.57, a price-to-earnings-growth ratio of 1.68 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts expect that Emerson Electric will post 5.48 earnings per share for the current year.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.5275 per share. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.68%. Emerson Electric’s payout ratio is 70.47%.

Hedge Funds Weigh In On Emerson Electric

Institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Emerson Electric during the third quarter worth $25,000. Transcendent Capital Group LLC purchased a new position in shares of Emerson Electric during the 1st quarter valued at about $31,000. Meeder Asset Management Inc. lifted its holdings in shares of Emerson Electric by 361.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after buying an additional 235 shares during the period. Morton Brown Family Wealth LLC acquired a new stake in Emerson Electric during the third quarter worth about $33,000. Finally, Frazier Financial Advisors LLC purchased a new position in Emerson Electric during the third quarter valued at approximately $33,000. 74.30% of the stock is 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.