Emerson Electric (NYSE:EMR) Given New $200.00 Price Target at KeyCorp

Emerson Electric (NYSE:EMR – Get Free Report) had its price objective boosted by research analysts at KeyCorp from $170.00 to $200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp‘s target price would indicate a potential upside of 21.48% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. HSBC boosted their price target on Emerson Electric from $170.00 to $180.00 in a research note on Thursday, August 6th. Rothschild & Co Redburn increased their price objective on shares of Emerson Electric from $165.00 to $180.00 in a research report on Thursday, August 6th. DA Davidson boosted their target price on shares of Emerson Electric from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, August 24th. Weiss Ratings raised Emerson Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Royal Bank Of Canada raised their price target on Emerson Electric from $179.00 to $188.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Read Our Latest Analysis on Emerson Electric

Emerson Electric Stock Down 3.4%

NYSE:EMR traded down $5.81 on Thursday, reaching $164.63. 594,524 shares of the stock traded hands, compared to its average volume of 2,960,579. The company has a current ratio of 0.90, a quick ratio of 0.66 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $92.21 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 2.35 and a beta of 1.23. Emerson Electric has a 12 month low of $122.64 and a 12 month high of $172.00. The company’s fifty day simple moving average is $157.73 and its 200 day simple moving average is $147.46.

Emerson Electric (NYSE:EMR – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.01. Emerson Electric had a net margin of 13.83% and a return on equity of 17.58%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter last year, the firm earned $1.62 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts predict that Emerson Electric will post 6.56 EPS for the current fiscal year.

Insider Activity

In related news, CEO Surendralal Karsanbhai sold 9,650 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $161.91, for a total value of $1,562,431.50. Following the transaction, the chief executive officer directly owned 271,743 shares of the company’s stock, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Emerson Electric in the second quarter valued at about $6,193,425,000. State Street Corp boosted its stake in shares of Emerson Electric by 1.5% during the 2nd quarter. State Street Corp now owns 27,678,497 shares of the industrial products company’s stock worth $3,962,177,000 after purchasing an additional 403,957 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Emerson Electric during the 2nd quarter worth $2,629,146,000. ABS Investment Management LLC acquired a new stake in Emerson Electric in the 2nd quarter worth about $858,900,000. Finally, Bank of New York Mellon Corp grew its holdings in Emerson Electric by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 6,315,661 shares of the industrial products company’s stock valued at $827,478,000 after purchasing an additional 117,513 shares during the period. Institutional investors own 74.30% of the company’s stock.

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Emerson Electric Company Profile

(Get Free Report)

Emerson Electric Co (NYSE: EMR) is a global technology and engineering company that provides automation, control, and industrial technology solutions. Its offerings include measurement and analytical instruments, control systems, valves, regulators, software, and related services used to improve the safety, efficiency, and reliability of industrial operations.

The company serves customers across industries such as energy, chemicals, life sciences, food and beverage, manufacturing, and commercial and residential applications.

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