Emerson Electric Co. (EMR) Trading Down 3.5%
Emerson Electric Co. (NYSE:EMR) shares fell 3.5% on Friday . The stock traded as low as $52.07 and last traded at $52.77, with a volume of 5,044,997 shares. The stock had previously closed at $54.67.
Several brokerages have recently weighed in on EMR. Buckingham Research lowered shares of Emerson Electric from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $49.00 to $44.00 in a report on Friday. Credit Suisse Group AG lowered shares of Emerson Electric from an “outperform” rating to a “neutral” rating and set a $57.00 price target on the stock. in a report on Friday. They noted that the move was a valuation call. Deutsche Bank AG cut their price target on shares of Emerson Electric from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, August 8th. JPMorgan Chase & Co. began coverage on shares of Emerson Electric in a report on Monday, August 8th. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, Barclays PLC cut their price target on shares of Emerson Electric from $55.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 3rd. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $51.63.
The stock’s 50 day moving average price is $54.49 and its 200-day moving average price is $52.60. The company has a market cap of $34.09 billion and a P/E ratio of 18.76.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The company earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.34 billion. On average, equities analysts anticipate that Emerson Electric Co. will post $2.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 12th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.59%.
Several hedge funds and institutional investors have modified their holdings of EMR. 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 worth $1,146,000 after buying an additional 3,948 shares in the last quarter. Jennison Associates LLC purchased a new stake in Emerson Electric during the fourth quarter worth about $3,362,000. 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 worth $74,891,000 after buying an additional 126,355 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Emerson Electric by 9.9% in the fourth quarter. Advisors Asset Management Inc. now owns 355,540 shares of the company’s stock worth $17,005,000 after buying an additional 32,020 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in Emerson Electric by 0.8% in the fourth quarter. Eaton Vance Management now owns 2,319,396 shares of the company’s stock worth $110,937,000 after buying an additional 18,788 shares in 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.
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