Barclays started coverage on shares of Emerson Electric (NYSE:EMR) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage issued an overweight rating and a $80.00 price target on the industrial products company’s stock.
Several other research firms also recently commented on EMR. UBS Group assumed coverage on shares of Emerson Electric in a report on Monday, January 22nd. They set a buy rating and a $73.26 price objective for the company. Wells Fargo & Co reissued a market perform rating and set a $73.00 price objective (up previously from $65.00) on shares of Emerson Electric in a report on Thursday, January 18th. JMP Securities downgraded shares of Emerson Electric from an outperform rating to a market perform rating and dropped their price objective for the company from $74.45 to $56.77 in a report on Thursday, February 1st. Royal Bank of Canada raised shares of Emerson Electric from a sector perform rating to an outperform rating and increased their price objective for the company from $70.38 to $80.00 in a report on Tuesday. Finally, Vertical Research raised shares of Emerson Electric from a hold rating to a buy rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $69.67.
Shares of Emerson Electric (NYSE:EMR) traded up $1.50 during trading on Thursday, reaching $73.00. 2,177,170 shares of the company traded hands, compared to its average volume of 3,644,832. The company has a market cap of $46,260.00, a P/E ratio of 27.83, a P/E/G ratio of 2.23 and a beta of 1.19. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.32 and a quick ratio of 1.02. Emerson Electric has a one year low of $56.77 and a one year high of $74.45.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 16th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, February 15th. Emerson Electric’s dividend payout ratio (DPR) is currently 74.62%.
In other news, VP Frank J. Dellaquila sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $64.77, for a total transaction of $136,017.00. Following the transaction, the vice president now directly owns 178,743 shares of the company’s stock, valued at $11,577,184.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $65.74, for a total transaction of $623,872.60. Following the transaction, the chief operating officer now directly owns 168,984 shares in the company, valued at $11,109,008.16. The disclosure for this sale can be found here. Insiders sold a total of 27,017 shares of company stock worth $1,771,129 over the last three months. 0.79% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EMR. Captrust Financial Advisors bought a new position in shares of Emerson Electric during the second quarter valued at approximately $177,119,000. Longview Partners Guernsey LTD boosted its stake in Emerson Electric by 9.0% in the third quarter. Longview Partners Guernsey LTD now owns 13,758,325 shares of the industrial products company’s stock valued at $864,573,000 after acquiring an additional 1,134,275 shares in the last quarter. Tide Point Capital Management LP acquired a new stake in Emerson Electric in the fourth quarter valued at approximately $64,637,000. Millennium Management LLC boosted its stake in Emerson Electric by 369.9% in the fourth quarter. Millennium Management LLC now owns 1,127,865 shares of the industrial products company’s stock valued at $78,601,000 after acquiring an additional 887,865 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Emerson Electric by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,525,308 shares of the industrial products company’s stock valued at $385,059,000 after acquiring an additional 861,558 shares in the last quarter. Hedge funds and other institutional investors own 69.44% of the company’s stock.
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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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