Emerson Electric Co. (EMR) Shares Gap Up to $52.37
Shares of Emerson Electric Co. (NYSE:EMR) gapped up prior to trading 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 trading hands.
EMR has been the topic of several analyst reports. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Emerson Electric in a research note on Wednesday, June 22nd. Zacks Investment Research cut Emerson Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Credit Suisse Group AG reiterated a “buy” rating on shares of Emerson Electric in a research note on Thursday, May 5th. Vertical Research cut Emerson Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Finally, Stifel Nicolaus reduced their price objective on Emerson Electric from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, May 4th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $52.76.
The stock has a 50-day moving average price of $52.09 and a 200-day moving average price of $50.65. The company has a market cap of $34.38 billion and a PE ratio of 18.30.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm earned $4.90 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, equities research analysts expect that Emerson Electric Co. will post $3.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 13th were issued a $0.475 dividend. The ex-dividend date was Wednesday, May 11th. This represents a $1.90 dividend on an annualized basis and a yield of 3.56%.
Other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Emerson Electric by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 41,576,785 shares of the company’s stock worth $1,988,618,000 after buying an additional 671,505 shares in the last quarter. Morgan Stanley raised its stake in shares of Emerson Electric by 37.3% in the fourth quarter. Morgan Stanley now owns 4,652,802 shares of the company’s stock worth $222,544,000 after buying an additional 1,264,487 shares during the period. Brandes Investment Partners LP raised its stake in shares of Emerson Electric by 4.3% in the fourth quarter. Brandes Investment Partners LP now owns 2,683,350 shares of the company’s stock worth $128,345,000 after buying an additional 111,807 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Emerson Electric by 1.6% in the fourth quarter. OppenheimerFunds Inc. now owns 2,623,265 shares of the company’s stock worth $125,491,000 after buying an additional 41,201 shares during the period. Finally, Eaton Vance Management raised its stake in shares of 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 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.
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.