Robert W. Baird Raises Emerson Electric (EMR) Price Target to $76.00
Emerson Electric (NYSE:EMR) had its price objective boosted by Robert W. Baird from $70.00 to $76.00 in a research note issued to investors on Wednesday morning. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.
A number of other analysts have also recently weighed in on EMR. Stifel Nicolaus restated a buy rating on shares of Emerson Electric in a report on Thursday, October 12th. Bank of America upgraded shares of Emerson Electric from a neutral rating to a buy rating and raised their price target for the company from $64.44 to $79.00 in a report on Tuesday, October 17th. Cowen upgraded shares of Emerson Electric from a market perform rating to an outperform rating in a report on Tuesday, October 17th. Zacks Investment Research cut shares of Emerson Electric from a hold rating to a sell rating in a report on Tuesday, October 17th. Finally, Wells Fargo & Co restated a market perform rating and issued a $65.00 price target (up from $60.00) on shares of Emerson Electric in a report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Emerson Electric has an average rating of Hold and a consensus target price of $67.65.
Emerson Electric (NYSE:EMR) opened at $69.07 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.40. The company has a market cap of $42,153.22, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.29 and a beta of 1.19. Emerson Electric has a 12-month low of $56.77 and a 12-month high of $74.45.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 16th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Thursday, February 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 78.23%.
In related news, VP Bell Katherine Button sold 7,518 shares of Emerson Electric stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $66.36, for a total value of $498,894.48. Following the completion of the sale, the vice president now directly owns 36,877 shares in the company, valued at approximately $2,447,157.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Edgar M. Purvis, Jr. sold 9,490 shares of Emerson Electric stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $65.74, for a total transaction of $623,872.60. Following the completion of the sale, the chief operating officer now owns 168,984 shares of the company’s stock, valued at $11,109,008.16. The disclosure for this sale can be found here. Insiders sold a total of 27,017 shares of company stock valued at $1,771,129 over the last quarter. 0.79% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new position in Emerson Electric during the 3rd quarter worth approximately $12,652,000. APG Asset Management N.V. increased its holdings in shares of Emerson Electric by 10.8% during the 3rd quarter. APG Asset Management N.V. now owns 3,921,119 shares of the industrial products company’s stock valued at $246,403,000 after purchasing an additional 383,300 shares in the last quarter. Fagan Associates Inc. increased its holdings in shares of Emerson Electric by 19.3% during the 2nd quarter. Fagan Associates Inc. now owns 5,975 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 968 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Emerson Electric by 6.6% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,075 shares of the industrial products company’s stock valued at $601,000 after purchasing an additional 620 shares in the last quarter. Finally, Andra AP fonden increased its holdings in shares of Emerson Electric by 5.2% during the 2nd quarter. Andra AP fonden now owns 95,300 shares of the industrial products company’s stock valued at $5,682,000 after purchasing an additional 4,700 shares in the last quarter. 69.23% of the stock is owned by institutional investors.
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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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