Emerson Electric Company (NYSE:EMR)‘s stock had its “sell” rating restated by Citigroup Inc. in a note issued to investors on Monday, October 9th. They currently have a $61.00 price target on the industrial products company’s stock, up from their previous price target of $58.00. Citigroup Inc.’s price target suggests a potential downside of 7.27% from the stock’s previous close.
Several other brokerages have also recently commented on EMR. Morgan Stanley restated an “equal weight” rating and issued a $67.00 target price (up from $64.00) on shares of Emerson Electric in a research report on Monday, October 2nd. JMP Securities began coverage on shares of Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 target price for the company. BidaskClub upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Royal Bank Of Canada restated a “sector perform” rating and issued a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Emerson Electric in a research report on Wednesday, July 19th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $62.17.
Emerson Electric (NYSE:EMR) opened at 65.78 on Monday. The company has a 50-day moving average price of $62.90 and a 200-day moving average price of $60.28. Emerson Electric has a one year low of $49.38 and a one year high of $66.10. The firm has a market cap of $42.10 billion, a PE ratio of 29.35 and a beta of 1.22.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. Equities analysts predict that Emerson Electric will post $2.61 earnings per share for the current fiscal year.
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In other news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the sale, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in Emerson Electric during the second quarter worth $177,119,000. Vanguard Group Inc. boosted its stake in Emerson Electric by 5.8% during 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 acquiring an additional 2,404,844 shares in the last quarter. Prudential Financial Inc. boosted its stake in Emerson Electric by 135.9% during the first quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after acquiring an additional 1,706,810 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in Emerson Electric by 217.1% during the second quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock worth $145,480,000 after acquiring an additional 1,684,786 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Emerson Electric by 1.9% during the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock worth $2,441,728,000 after acquiring an additional 778,791 shares in the last quarter. 70.03% 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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