Emerson Electric Co. (EMR) Now Covered by HSBC
Research analysts at HSBC began coverage on shares of Emerson Electric Co. (NYSE:EMR) in a note issued to investors on Friday, The Fly reports. The brokerage set a “reduce” rating on the stock.
A number of other equities analysts have also weighed in on the stock. Vetr lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating and set a $47.31 price target for the company. in a research report on Monday. Berenberg Bank started coverage on shares of Emerson Electric in a report on Monday. They issued a “sell” rating and a $41.00 target price on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Emerson Electric in a report on Monday, September 26th. Deutsche Bank AG reissued a “hold” rating on shares of Emerson Electric in a report on Thursday, September 15th. Finally, Morgan Stanley reissued a “hold” rating and issued a $50.00 target price on shares of Emerson Electric in a report on Monday, August 29th. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $51.91.
Emerson Electric (NYSE:EMR) opened at 53.39 on Friday. The company’s 50 day moving average is $52.70 and its 200 day moving average is $53.43. The company has a market cap of $34.36 billion, a price-to-earnings ratio of 18.91 and a beta of 1.19. Emerson Electric has a 12-month low of $41.25 and a 12-month high of $56.82.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.04. The firm earned $5.10 billion during the quarter, compared to the consensus estimate of $5.34 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 8.96%. Analysts forecast that Emerson Electric will post $2.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Wednesday, August 10th. Emerson Electric’s payout ratio is presently 67.38%.
Several hedge funds and other institutional investors have recently bought and sold shares of EMR. Capital World Investors boosted its position in shares of Emerson Electric by 58.3% in the second quarter. Capital World Investors now owns 9,500,000 shares of the company’s stock valued at $495,520,000 after buying an additional 3,500,000 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Emerson Electric by 867.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,445,599 shares of the company’s stock valued at $75,402,000 after buying an additional 1,296,200 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Emerson Electric by 3.3% in the second quarter. Vanguard Group Inc. now owns 39,936,101 shares of the company’s stock valued at $2,083,068,000 after buying an additional 1,270,315 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Emerson Electric by 128.6% in the second quarter. Prudential Financial Inc. now owns 2,090,364 shares of the company’s stock valued at $109,033,000 after buying an additional 1,176,016 shares during the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new position in shares of Emerson Electric during the second quarter valued at about $46,108,000. Hedge funds and other institutional investors own 69.40% of the company’s stock.
Emerson Electric Company Profile
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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