Robert W. Baird reiterated their hold rating on shares of Emerson Electric (NYSE:EMR) in a research note published on Friday, November 10th. They currently have a $70.00 price objective on the industrial products company’s stock.
Several other brokerages also recently commented on EMR. Cowen upgraded Emerson Electric to a buy rating and set a $71.00 target price for the company in a research note on Monday, October 23rd. Citigroup reiterated a sell rating and set a $61.00 target price (up from $58.00) on shares of Emerson Electric in a research note on Monday, October 9th. Royal Bank Of Canada restated a neutral rating on shares of Emerson Electric in a research note on Thursday, November 9th. Wells Fargo & Company restated a market perform rating and issued a $65.00 price target (up from $60.00) on shares of Emerson Electric in a research note on Wednesday, November 8th. Finally, Bank of America upgraded Emerson Electric from a neutral rating to a buy rating and boosted their price target for the company from $64.44 to $79.00 in a research note on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $65.14.
Shares of Emerson Electric (NYSE:EMR) traded down $0.28 during trading on Friday, reaching $63.87. The company had a trading volume of 3,929,400 shares, compared to its average volume of 3,424,442. Emerson Electric has a 1-year low of $53.92 and a 1-year high of $67.79. The firm has a market cap of $39,555.35, a price-to-earnings ratio of 23.89, a PEG ratio of 2.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, November 16th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is presently 82.55%.
In other news, insider Robert T. Sharp sold 2,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at $3,792,467.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.79% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors bought a new position in Emerson Electric in the second quarter worth approximately $177,119,000. Vanguard Group Inc. boosted its holdings in Emerson Electric 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 acquiring an additional 2,404,844 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Emerson Electric 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 acquiring an additional 1,706,810 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in Emerson Electric by 217.1% in 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, Longview Partners Guernsey LTD boosted its holdings 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 worth $864,573,000 after acquiring an additional 1,134,275 shares in the last quarter. 69.19% of the stock is owned by institutional investors.
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Emerson Electric Company Profile
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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