Emerson Electric (NYSE:EMR) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Emerson Electric (NYSE:EMR) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently commented on EMR. HSBC lifted their price objective on Emerson Electric from $170.00 to $180.00 in a research report on Thursday, August 6th. KeyCorp raised their target price on Emerson Electric from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Weiss Ratings raised Emerson Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. TD Cowen lifted their price target on Emerson Electric from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, September 25th. Finally, Citigroup boosted their price target on shares of Emerson Electric from $182.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.38.

Emerson Electric Stock Up 4.4%

Shares of NYSE EMR opened at $169.56 on Friday. Emerson Electric has a 12-month low of $122.64 and a 12-month high of $172.00. The stock has a market cap of $94.97 billion, a PE ratio of 25.94, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a current ratio of 0.94, a quick ratio of 0.66 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $158.19 and a 200 day moving average of $147.71.

Emerson Electric (NYSE:EMR) last released its earnings results on Wednesday, November 4th. The industrial products company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.01. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.11 billion. Emerson Electric had a net margin of 14.15% and a return on equity of 18.08%. The business’s revenue was up .0% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. As a group, sell-side analysts predict that Emerson Electric will post 7.34 EPS for the current fiscal year.

Emerson Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a dividend of $0.5950 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.5550. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Emerson Electric’s dividend payout ratio (DPR) is 46.44%.

Hedge Funds Weigh In On Emerson Electric

Several large investors have recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc raised its position in Emerson Electric by 4.8% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 12,501 shares of the industrial products company’s stock valued at $1,939,000 after purchasing an additional 576 shares during the period. Intech Investment Management LLC lifted its stake in Emerson Electric by 28.1% during the third quarter. Intech Investment Management LLC now owns 16,755 shares of the industrial products company’s stock worth $2,599,000 after purchasing an additional 3,679 shares in the last quarter. Silver Oak Securities Incorporated boosted its position in shares of Emerson Electric by 4.3% during the third quarter. Silver Oak Securities Incorporated now owns 4,624 shares of the industrial products company’s stock worth $751,000 after buying an additional 191 shares during the period. White Pine Capital LLC purchased a new position in shares of Emerson Electric during the third quarter worth $3,338,000. Finally, West Family Investments Inc. purchased a new position in shares of Emerson Electric during the third quarter worth $633,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.

About Emerson Electric

Emerson Electric Co is a global technology and engineering company focused on automation. It develops products and systems that help industrial and commercial customers monitor and control operations, including measurement instruments, control systems, valves, actuators, and industrial software.

The company serves customers across industries and regions worldwide. Its portfolio includes technologies for process and factory automation, as well as software used to design, operate, and optimize industrial facilities.

Founded in 1890 and headquartered in St.