Vetr downgraded shares of Emerson Electric Co. (NYSE:EMR) from a sell rating to a strong sell rating in a research note released on Monday morning. The firm currently has $47.31 price objective on the stock.
A number of other research firms have also recently weighed in on EMR. Oppenheimer Holdings Inc. reissued a hold rating on shares of Emerson Electric in a report on Wednesday, June 22nd. Wells Fargo & Co. reissued a hold rating and issued a $52.00 price target on shares of Emerson Electric in a report on Monday, July 18th. Deutsche Bank AG reissued a hold rating on shares of Emerson Electric in a report on Thursday, September 15th. JPMorgan Chase & Co. reissued a neutral rating on shares of Emerson Electric in a report on Monday, September 26th. Finally, Morgan Stanley reissued a hold rating and issued a $50.00 price target on shares of Emerson Electric in a report on Monday, August 29th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $51.91.
Emerson Electric (NYSE:EMR) opened at 53.80 on Monday. Emerson Electric has a 12-month low of $41.25 and a 12-month high of $56.82. The stock’s 50 day moving average price is $52.81 and its 200-day moving average price is $53.44. The stock has a market capitalization of $34.62 billion, a PE ratio of 19.05 and a beta of 1.19.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.04. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. Analysts expect that Emerson Electric will post $2.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Wednesday, August 10th. Emerson Electric’s dividend payout ratio is currently 67.38%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors increased its position in shares of Emerson Electric by 58.3% in the second quarter. Capital World Investors now owns 9,500,000 shares of the company’s stock worth $495,520,000 after buying an additional 3,500,000 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Emerson Electric by 867.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,445,599 shares of the company’s stock worth $75,402,000 after buying an additional 1,296,200 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Emerson Electric by 3.3% in the second quarter. Vanguard Group Inc. now owns 39,936,101 shares of the company’s stock worth $2,083,068,000 after buying an additional 1,270,315 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Emerson Electric by 128.6% in the second quarter. Prudential Financial Inc. now owns 2,090,364 shares of the company’s stock worth $109,033,000 after buying an additional 1,176,016 shares in the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of Emerson Electric during the second quarter worth approximately $46,108,000. 69.40% of the stock is owned by hedge funds and other institutional investors.
About Emerson Electric
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
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