Emerson Electric Co. (EMR) Shares Gap Up to $52.37
Emerson Electric Co. (NYSE:EMR)’s share price gapped up before the market opened on Friday . The stock had previously closed at $52.05, but opened at $52.37. Emerson Electric shares last traded at $53.22, with a volume of 1,456,848 shares traded.
A number of equities research analysts have recently weighed in on EMR shares. Sanford C. Bernstein reissued a “market perform” rating on shares of Emerson Electric in a report on Monday, June 27th. Robert W. Baird reissued a “neutral” rating and set a $58.00 target price on shares of Emerson Electric in a report on Monday, June 27th. Bank of America Corp. reissued a “sell” rating on shares of Emerson Electric in a report on Wednesday, June 22nd. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Emerson Electric in a report on Wednesday, June 22nd. Finally, Argus raised Emerson Electric from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Wednesday, May 11th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. Emerson Electric currently has an average rating of “Hold” and an average price target of $52.76.
The company has a market cap of $34.38 billion and a price-to-earnings ratio of 18.30. The company’s 50 day moving average is $52.09 and its 200 day moving average is $50.65.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, May 3rd. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. During the same quarter in the prior year, the business earned $0.65 EPS. The company earned $4.90 billion during the quarter, compared to the consensus estimate of $4.89 billion. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities analysts predict that Emerson Electric Co. will post $3.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 13th were paid a $0.475 dividend. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $1.90 annualized dividend and a yield of 3.56%.
A number of hedge funds and institutional investors recently modified their holdings of EMR. Dimensional Fund Advisors LP increased its position in shares of Emerson Electric by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,759,907 shares of the company’s stock valued at $84,185,000 after buying an additional 115,398 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Emerson Electric by 28.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 273,665 shares of the company’s stock valued at $13,089,000 after buying an additional 60,392 shares in the last quarter. Stephens Inc. AR boosted its stake in Emerson Electric by 19.7% in the fourth quarter. Stephens Inc. AR now owns 23,959 shares of the company’s stock valued at $1,146,000 after buying an additional 3,948 shares during the last quarter. Jennison Associates LLC acquired a new stake in Emerson Electric during the fourth quarter valued at $3,362,000. Finally, I.G. Investment Management LTD. boosted its stake in Emerson Electric by 8.8% in the fourth quarter. I.G. Investment Management LTD. now owns 1,565,773 shares of the company’s stock valued at $74,891,000 after buying an additional 126,355 shares during the last quarter.
Emerson Electric Co is engaged in offering technology and engineering together that provides solutions for customers in industrial, commercial, and consumer markets around the world. The company operates through five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.