Citigroup Inc. Reaffirms “Sell” Rating for Emerson Electric Company (EMR)
Citigroup Inc. reaffirmed their sell rating on shares of Emerson Electric Company (NYSE:EMR) in a report released on Monday. Citigroup Inc. currently has a $61.00 price objective on the industrial products company’s stock, up from their prior price objective of $58.00.
Other research analysts have also issued reports about the stock. Stifel Nicolaus reissued a buy rating and set a $68.00 target price on shares of Emerson Electric in a research note on Wednesday, July 19th. Morgan Stanley reissued an equal weight rating and set a $67.00 target price (up from $64.00) on shares of Emerson Electric in a research note on Monday, October 2nd. BidaskClub raised shares of Emerson Electric from a sell rating to a hold rating in a research note on Friday, June 16th. JMP Securities initiated coverage on shares of Emerson Electric in a research note on Monday, June 19th. They set an outperform rating and a $70.00 target price on the stock. Finally, Royal Bank Of Canada reissued a sector perform rating and set a $62.00 target price (up from $61.00) on shares of Emerson Electric in a research note on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $60.71.
Shares of Emerson Electric (NYSE:EMR) opened at 63.43 on Monday. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 28.30 and a beta of 1.22. Emerson Electric has a one year low of $49.22 and a one year high of $64.36. The company’s 50 day moving average is $61.62 and its 200-day moving average is $60.01.
Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. Emerson Electric’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. Equities analysts expect that Emerson Electric will post $2.60 EPS for the current year.
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In other news, insider Robert T. Sharp sold 2,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Pensionfund Sabic purchased a new stake in shares of Emerson Electric in the third quarter valued at about $2,118,000. Pensionfund DSM Netherlands purchased a new stake in shares of Emerson Electric in the third quarter valued at about $3,833,000. Park National Corp OH raised its holdings in shares of Emerson Electric by 0.7% in the third quarter. Park National Corp OH now owns 372,337 shares of the industrial products company’s stock valued at $23,398,000 after purchasing an additional 2,545 shares during the last quarter. Perpetual Ltd purchased a new stake in shares of Emerson Electric in the second quarter valued at about $298,000. Finally, W. E. Donoghue & Co. LLC purchased a new stake in shares of Emerson Electric in the second quarter valued at about $15,702,000. Institutional investors own 70.01% of the company’s stock.
About Emerson Electric
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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