Emerson Electric Company (EMR) Upgraded by Cowen and Company to Buy
Emerson Electric Company (NYSE:EMR) was upgraded by Cowen and Company to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $71.00 target price on the industrial products company’s stock. Cowen and Company’s target price would suggest a potential upside of 7.94% from the company’s previous close.
The analysts wrote, “EMR pre-announced a Q4 EPS beat with 3% organic growth and strong FCF , despite.””
Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price target on shares of Emerson Electric in a report on Wednesday, July 19th. Morgan Stanley restated an “overweight” rating on shares of Emerson Electric in a report on Tuesday, July 11th. Berenberg Bank restated a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a report on Friday, August 11th. Finally, Citigroup Inc. restated a “sell” rating and issued a $61.00 price target (up previously from $58.00) on shares of Emerson Electric in a report on Monday, October 9th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $62.86.
Shares of Emerson Electric (NYSE EMR) opened at 65.78 on Monday. The firm has a market capitalization of $42.10 billion, a PE ratio of 29.35 and a beta of 1.22. Emerson Electric has a 12 month low of $49.38 and a 12 month high of $66.10. The firm’s 50 day moving average is $62.90 and its 200-day moving average is $60.28.
Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, analysts expect that Emerson Electric will post $2.61 EPS for the current fiscal year.
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In related news, insider Robert T. Sharp sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $58.99, for a total transaction of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares in the company, valued at $3,792,467.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Emerson Electric by 1.1% during the second quarter. Vanguard Group Inc. now owns 44,195,877 shares of the industrial products company’s stock worth $2,634,958,000 after purchasing an additional 497,625 shares during the last quarter. BlackRock Inc. lifted its stake in Emerson Electric by 1.9% during the second quarter. BlackRock Inc. now owns 40,954,867 shares of the industrial products company’s stock worth $2,441,728,000 after purchasing an additional 778,791 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Emerson Electric by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 14,552,526 shares of the industrial products company’s stock worth $871,114,000 after purchasing an additional 332,238 shares during the last quarter. Longview Partners Guernsey LTD lifted its stake in Emerson Electric by 4.4% during the second quarter. Longview Partners Guernsey LTD now owns 12,624,050 shares of the industrial products company’s stock worth $752,646,000 after purchasing an additional 526,712 shares during the last quarter. Finally, Capital World Investors lifted its stake in Emerson Electric by 4.6% during the second quarter. Capital World Investors now owns 11,450,000 shares of the industrial products company’s stock worth $682,649,000 after purchasing an additional 500,000 shares during the last quarter. Hedge funds and other institutional investors own 70.03% 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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