Emerson Electric Co. (NYSE:EMR) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 7,640,000 shares, an increase of 6.6% from the September 30th total of 7,170,000 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 3,140,000 shares, the short-interest ratio is currently 2.4 days.
Several analysts recently issued reports on EMR shares. ValuEngine raised Emerson Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. HSBC downgraded Emerson Electric from a “hold” rating to a “reduce” rating and set a $64.00 target price on the stock. in a research note on Thursday. Citigroup lifted their target price on Emerson Electric from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank decreased their target price on Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Zacks Investment Research downgraded Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price objective on the stock. in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $72.36.
In related news, VP Sara Yang Bosco sold 10,969 shares of Emerson Electric stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $73.55, for a total transaction of $806,769.95. Following the sale, the vice president now owns 88,817 shares of the company’s stock, valued at approximately $6,532,490.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Frank J. Dellaquila sold 40,817 shares of Emerson Electric stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $73.73, for a total value of $3,009,437.41. Following the sale, the chief financial officer now directly owns 278,803 shares in the company, valued at approximately $20,556,145.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,565 shares of company stock worth $4,168,420. Insiders own 0.07% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Gradient Investments LLC boosted its holdings in Emerson Electric by 164.4% during the 3rd quarter. Gradient Investments LLC now owns 386 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 240 shares during the period. Candriam Luxembourg S.C.A. boosted its holdings in Emerson Electric by 12.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 382,028 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 43,374 shares during the period. Ellevest Inc. boosted its holdings in Emerson Electric by 110.0% during the 2nd quarter. Ellevest Inc. now owns 420 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 220 shares during the period. Larson Financial Group LLC boosted its holdings in Emerson Electric by 80.3% during the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 196 shares during the period. Finally, Garrett Wealth Advisory Group LLC purchased a new position in Emerson Electric during the 3rd quarter valued at $31,000. Institutional investors own 70.28% of the company’s stock.
Shares of NYSE EMR traded up $0.80 during trading hours on Friday, hitting $73.53. 1,604,997 shares of the company traded hands, compared to its average volume of 2,925,268. The stock has a market capitalization of $45.26 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 2.56 and a beta of 1.37. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average price is $69.02 and its 200 day moving average price is $65.03. Emerson Electric has a 12 month low of $55.38 and a 12 month high of $75.54.
Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.07 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.07. Emerson Electric had a return on equity of 26.32% and a net margin of 12.55%. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Emerson Electric will post 3.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, November 14th. Emerson Electric’s payout ratio is currently 53.12%.
About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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