Emerson Electric (NYSE:EMR) Now Covered by Evercore ISI

Evercore ISI started coverage on shares of Emerson Electric (NYSE:EMR) in a note issued to investors on Monday. The brokerage set an “outperform” rating and a $170.00 price target on the industrial products company’s stock. Evercore ISI’s price target would indicate a potential upside of 24.45% from the stock’s current price.

Several other research firms have also recently issued reports on EMR. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada dropped their price objective on Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Daiwa Capital Markets upped their price target on Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Barclays boosted their price objective on shares of Emerson Electric from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $140.00 price target (down from $150.00) on shares of Emerson Electric in a research report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.06.

Emerson Electric Price Performance

EMR stock opened at $136.60 on Monday. The business’s fifty day moving average price is $132.21 and its 200 day moving average price is $133.17. Emerson Electric has a 12-month low of $90.06 and a 12-month high of $150.27. The company has a market capitalization of $76.81 billion, a PE ratio of 33.81, a P/E/G ratio of 2.23 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 0.41.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a return on equity of 15.87% and a net margin of 12.73%.The company had revenue of $3.16 billion for the quarter. On average, sell-side analysts anticipate that Emerson Electric will post 5.96 EPS for the current year.

Emerson Electric announced that its Board of Directors has initiated a share buyback program on Wednesday, November 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of Emerson Electric stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the sale, the chief executive officer owned 196,292 shares in the company, valued at $26,106,836. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Emerson Electric

A number of hedge funds have recently made changes to their positions in the stock. Impact Capital Partners LLC grew its holdings in Emerson Electric by 3.9% in the second quarter. Impact Capital Partners LLC now owns 1,909 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 71 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in shares of Emerson Electric by 1.7% in the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,338 shares of the industrial products company’s stock worth $578,000 after buying an additional 71 shares in the last quarter. Jag Capital Management LLC increased its holdings in Emerson Electric by 1.9% during the 2nd quarter. Jag Capital Management LLC now owns 3,954 shares of the industrial products company’s stock valued at $527,000 after acquiring an additional 72 shares in the last quarter. Beacon Financial Advisory LLC raised its position in Emerson Electric by 2.9% during the second quarter. Beacon Financial Advisory LLC now owns 2,769 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 77 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of Emerson Electric by 3.5% in the third quarter. Revolve Wealth Partners LLC now owns 2,308 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.