Emerson Electric Company (EMR) Reaches New 52-Week High at $66.25
Shares of Emerson Electric Company (NYSE:EMR) hit a new 52-week high during trading on Monday . The company traded as high as $66.25 and last traded at $66.25, with a volume of 970,424 shares trading hands. The stock had previously closed at $65.78.
EMR has been the subject of a number of recent research reports. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Stifel Nicolaus restated a “buy” rating and set a $68.00 price target on shares of Emerson Electric in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Emerson Electric from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $53.00 price objective on shares of Emerson Electric in a report on Friday, August 11th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Emerson Electric has a consensus rating of “Hold” and a consensus price target of $62.86.
The company has a market cap of $42.33 billion, a PE ratio of 29.51 and a beta of 1.22. The firm’s 50 day moving average is $62.90 and its 200 day moving average is $60.28.
Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.68. Emerson Electric had a return on equity of 22.32% and a net margin of 8.89%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts predict that Emerson Electric Company will post $2.61 EPS for the current year.
In related news, insider Robert T. Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. APG Asset Management N.V. lifted its holdings in Emerson Electric by 10.8% in the 3rd quarter. APG Asset Management N.V. now owns 3,921,119 shares of the industrial products company’s stock worth $246,403,000 after purchasing an additional 383,300 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Emerson Electric by 3.5% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 78,718 shares of the industrial products company’s stock worth $4,947,000 after purchasing an additional 2,628 shares in the last quarter. Kistler Tiffany Companies LLC lifted its holdings in Emerson Electric by 13.1% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 7,507 shares of the industrial products company’s stock worth $472,000 after purchasing an additional 872 shares in the last quarter. Rockefeller Financial Services Inc. lifted its holdings in Emerson Electric by 11.4% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 35,144 shares of the industrial products company’s stock worth $2,208,000 after purchasing an additional 3,610 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. lifted its holdings in Emerson Electric by 2.5% in the 3rd quarter. Butensky & Cohen Financial Security Inc. now owns 33,925 shares of the industrial products company’s stock worth $2,132,000 after purchasing an additional 835 shares in the last quarter. 70.03% of the stock is currently owned by institutional investors.
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Emerson Electric Company Profile
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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