Emerson Electric (NYSE:EMR) Price Target Raised to $118.00

Emerson Electric (NYSE:EMR) had its target price boosted by Barclays from $112.00 to $118.00 in a research note published on Monday morning,Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on EMR. JPMorgan Chase & Co. boosted their price target on shares of Emerson Electric from $113.00 to $133.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Wells Fargo & Company upped their target price on shares of Emerson Electric from $121.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Royal Bank of Canada upped their target price on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. KeyCorp dropped their target price on shares of Emerson Electric from $158.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Robert W. Baird dropped their target price on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.00.

Emerson Electric Price Performance

EMR stock opened at $126.55 on Monday. The firm’s 50-day moving average price is $111.13 and its two-hundred day moving average price is $118.51. Emerson Electric has a 12-month low of $90.06 and a 12-month high of $134.85. The stock has a market capitalization of $71.18 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.49 and a beta of 1.28. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.74% and a return on equity of 12.08%. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. Emerson Electric’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Emerson Electric will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a $0.5275 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.67%. Emerson Electric’s dividend payout ratio (DPR) is presently 50.48%.

Insider Buying and Selling

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the completion of the transaction, the chief executive officer now owns 164,957 shares in the company, valued at approximately $18,694,576.81. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Emerson Electric

Hedge funds and other institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC bought a new position in Emerson Electric during the fourth quarter valued at $25,000. Saudi Central Bank bought a new position in Emerson Electric during the first quarter valued at $25,000. Vega Investment Solutions bought a new position in Emerson Electric during the fourth quarter valued at $27,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Emerson Electric in the 1st quarter worth about $27,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Emerson Electric in the 4th quarter worth about $28,000. 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.