Emerson Electric Co. (EMR) Shares Gap Up to $55.23
Emerson Electric Co. (NYSE:EMR) shares gapped up before the market opened on Thursday . The stock had previously closed at $54.90, but opened at $55.23. Emerson Electric shares last traded at $56.04, with a volume of 2,793,411 shares.
A number of research analysts recently issued reports on EMR shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Emerson Electric in a report on Monday, June 27th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Emerson Electric in a report on Sunday, July 10th. Argus raised Emerson Electric from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Wednesday, May 11th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Emerson Electric in a report on Wednesday, June 22nd. Finally, Deutsche Bank AG increased their price target on Emerson Electric from $44.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, May 9th. Four research 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’s stock. Emerson Electric currently has an average rating of “Hold” and a consensus price target of $52.76.
The company has a market cap of $36.18 billion and a price-to-earnings ratio of 19.25. The firm’s 50-day moving average price is $52.67 and its 200 day moving average price is $50.89.
Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, May 3rd. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.03. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.89 billion. Emerson Electric’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, analysts predict that Emerson Electric Co. will post $3.08 earnings per share for the current fiscal year.
Other institutional investors have recently made changes to their positions in the company. Barrett Asset Management LLC raised its position in shares of Emerson Electric by 1.3% in the fourth quarter. Barrett Asset Management LLC now owns 22,498 shares of the company’s stock worth $1,076,000 after buying an additional 283 shares during the period. Cobblestone Capital Advisors LLC NY raised its position in shares of Emerson Electric by 0.4% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 22,529 shares of the company’s stock worth $1,078,000 after buying an additional 100 shares during the period. Stephens Inc. AR raised its position in shares of Emerson Electric by 19.7% in the fourth quarter. Stephens Inc. AR now owns 23,959 shares of the company’s stock worth $1,146,000 after buying an additional 3,948 shares during the period. SPC Financial Inc. raised its position in shares of Emerson Electric by 54.5% in the fourth quarter. SPC Financial Inc. now owns 26,337 shares of the company’s stock worth $1,260,000 after buying an additional 9,290 shares during the period. Finally, Alerus Investment Advisors Corp raised its position in shares of Emerson Electric by 14.9% in the fourth quarter. Alerus Investment Advisors Corp now owns 28,150 shares of the company’s stock worth $1,347,000 after buying an additional 3,648 shares during the period.
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.
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