Wells Fargo & Company Issues Positive Forecast for Emerson Electric (NYSE:EMR) Stock Price

by · The Cerbat Gem

Emerson Electric (NYSE:EMR – Free Report) had its price objective increased by Wells Fargo & Company from $128.00 to $135.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

EMR has been the topic of several other research reports. Oppenheimer upped their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Morgan Stanley initiated coverage on Emerson Electric in a research note on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. Barclays upped their price target on Emerson Electric from $103.00 to $116.00 and gave the company an “equal weight” rating in a report on Wednesday. StockNews.com lowered Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.65.

Check Out Our Latest Stock Analysis on EMR

Emerson Electric Stock Down 0.9 %

Shares of Emerson Electric stock traded down $1.15 during midday trading on Wednesday, hitting $125.71. The company had a trading volume of 1,029,384 shares, compared to its average volume of 2,720,509. Emerson Electric has a 52-week low of $84.61 and a 52-week high of $127.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The stock has a market capitalization of $71.99 billion, a P/E ratio of 42.57, a P/E/G ratio of 1.68 and a beta of 1.30. The company has a 50 day moving average of $107.50 and a 200 day moving average of $109.05.

Emerson Electric (NYSE:EMR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating 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 firm 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 company’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts predict that Emerson Electric will post 5.48 earnings per share for the current fiscal 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 paid a dividend of $0.5275 per share. This is a boost 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%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norden Group LLC purchased a new stake in shares of Emerson Electric in the first quarter worth about $231,000. Mediolanum International Funds Ltd bought a new stake in Emerson Electric in the 1st quarter worth approximately $398,000. Texas Permanent School Fund Corp boosted its position in shares of Emerson Electric by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 118,175 shares of the industrial products company’s stock valued at $13,403,000 after acquiring an additional 467 shares during the last quarter. Advisory Services Network LLC raised its stake in Emerson Electric by 17.3% during the first quarter. Advisory Services Network LLC now owns 30,470 shares of the industrial products company’s stock valued at $3,456,000 after purchasing an additional 4,496 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in Emerson Electric by 3.4% during the first quarter. Empirical Finance LLC now owns 21,014 shares of the industrial products company’s stock valued at $2,383,000 after purchasing an additional 692 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Company Profile

(Get Free Report)

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.

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