Emerson Electric (NYSE:EMR) Price Target Raised to $140.00 at KeyCorp

Emerson Electric (NYSE:EMR) had its target price raised by KeyCorp from $125.00 to $140.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Emerson Electric from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley started coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 target price on the stock. Wells Fargo & Company reduced their price target on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Oppenheimer raised their price objective on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird increased their price target on Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.65.

Emerson Electric Trading Down 1.4 %

NYSE EMR traded down $1.75 during trading hours on Wednesday, hitting $125.11. 877,808 shares of the company were exchanged, compared to its average volume of 2,719,807. The stock has a 50-day moving average price of $107.50 and a 200 day moving average price of $109.05. Emerson Electric has a 52 week low of $84.61 and a 52 week high of $127.74. The stock has a market cap of $71.65 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 1.68 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. Analysts forecast that Emerson Electric will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.5275 per share. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.69%. Emerson Electric’s dividend payout ratio is 70.47%.

Hedge Funds Weigh In On Emerson Electric

A number of hedge funds have recently made changes to their positions in the business. Norden Group LLC acquired a new position in shares of Emerson Electric in the first quarter worth about $231,000. Mediolanum International Funds Ltd acquired a new position in Emerson Electric in the first quarter worth approximately $398,000. Texas Permanent School Fund Corp lifted 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 boosted its position in shares of Emerson Electric by 17.3% in the first quarter. Advisory Services Network LLC now owns 30,470 shares of the industrial products company’s stock worth $3,456,000 after buying an additional 4,496 shares during the period. Finally, Empirical Finance LLC raised 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 acquiring an additional 692 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

About Emerson Electric

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.