Emerson Electric Company (EMR) Earns Buy Rating from Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of Emerson Electric Company (NYSE:EMR) in a report issued on Thursday, Marketbeat reports. The brokerage currently has a $72.00 price objective on the stock, up from their previous price objective of $68.00.
EMR has been the subject of several other reports. Zacks Investment Research upgraded shares of Emerson Electric from a sell rating to a hold rating in a report on Tuesday, October 31st. Cowen and Company upgraded shares of Emerson Electric to a buy rating and set a $71.00 price objective for the company in a report on Monday, October 23rd. Bank of America Corporation upgraded shares of Emerson Electric from a neutral rating to a buy rating and upped their price objective for the stock from $64.44 to $79.00 in a report on Tuesday, October 17th. Citigroup Inc. restated a sell rating and issued a $61.00 price objective (up from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Finally, Wells Fargo & Company restated a market perform rating and issued a $65.00 price objective (up from $60.00) on shares of Emerson Electric in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average price target of C$65.14.
Shares of Emerson Electric (NYSE:EMR) traded up C$0.13 on Thursday, reaching C$61.61. 3,610,000 shares of the company’s stock traded hands, compared to its average volume of 3,648,008. The stock has a market cap of $39,431.63, a PE ratio of 23.88, a P/E/G ratio of 2.81 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. Emerson Electric has a fifty-two week low of C$53.92 and a fifty-two week high of C$67.79.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, November 7th. The company reported C$0.83 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.83. The business had revenue of C$4.44 billion during the quarter, compared to analysts’ expectations of C$4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. analysts predict that Emerson Electric will post 2.9 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, November 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 81.70%.
In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of C$58.99, for a total transaction of C$117,980.00. Following the completion of the sale, the insider now directly owns 64,290 shares in the company, valued at approximately C$3,792,467.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Zeke Capital Advisors LLC increased its stake in Emerson Electric by 121.9% during the 3rd quarter. Zeke Capital Advisors LLC now owns 11,381 shares of the company’s stock valued at $715,000 after purchasing an additional 6,251 shares in the last quarter. Amalgamated Bank increased its stake in Emerson Electric by 1.9% during the 3rd quarter. Amalgamated Bank now owns 74,266 shares of the company’s stock valued at $4,667,000 after purchasing an additional 1,392 shares in the last quarter. BKS Advisors LLC increased its stake in Emerson Electric by 5.3% during the 3rd quarter. BKS Advisors LLC now owns 33,292 shares of the company’s stock valued at $2,092,000 after purchasing an additional 1,676 shares in the last quarter. Nuance Investments LLC increased its stake in Emerson Electric by 1.3% during the 3rd quarter. Nuance Investments LLC now owns 385,314 shares of the company’s stock valued at $24,213,000 after purchasing an additional 4,794 shares in the last quarter. Finally, Richard C. Young & CO. LTD. increased its stake in Emerson Electric by 6.1% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 35,714 shares of the company’s stock valued at $2,244,000 after purchasing an additional 2,053 shares in the last quarter. Institutional investors and hedge funds own 70.14% 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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