Edward Jones Lowers Emerson Electric Company (EMR) to Hold
Emerson Electric Company (NYSE:EMR) was downgraded by stock analysts at Edward Jones from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports.
Other research analysts have also recently issued reports about the stock. Cowen and Company raised shares of Emerson Electric to a “buy” rating and set a $71.00 price target for the company in a research report on Monday, October 23rd. Bank of America Corporation raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price target for the company from $64.44 to $79.00 in a research report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating on shares of Emerson Electric in a research report on Thursday, October 12th. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price target (up from $64.00) on shares of Emerson Electric in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Emerson Electric presently has a consensus rating of “Hold” and an average price target of $65.14.
Shares of Emerson Electric (NYSE:EMR) traded down $0.08 during midday trading on Friday, reaching $59.02. 10,266,600 shares of the company were exchanged, compared to its average volume of 3,385,943. Emerson Electric has a one year low of $53.92 and a one year high of $67.79. The stock has a market cap of $38,310.00, a PE ratio of 23.10, a P/E/G ratio of 2.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 1.64.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the company posted $0.74 EPS. Emerson Electric’s revenue was up 12.8% on a year-over-year basis. research analysts anticipate that Emerson Electric will post 2.9 earnings per share for the current year.
In other news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the completion of the sale, 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 this hyperlink. Insiders own 0.79% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Emerson Electric by 1.1% in 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 acquiring an additional 497,625 shares during the period. BlackRock Inc. grew its position 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 valued at $2,441,728,000 after buying an additional 778,791 shares during the period. Longview Partners Guernsey LTD grew its position in Emerson Electric by 9.0% during the third quarter. Longview Partners Guernsey LTD now owns 13,758,325 shares of the industrial products company’s stock valued at $864,573,000 after buying an additional 1,134,275 shares during the period. Bank of New York Mellon Corp grew its position in Emerson Electric by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 13,355,963 shares of the industrial products company’s stock valued at $839,288,000 after buying an additional 597,993 shares during the period. Finally, Capital World Investors grew its position 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 valued at $682,649,000 after buying an additional 500,000 shares during the period. Hedge funds and other institutional investors own 70.18% of the company’s stock.
Emerson Electric Company Profile
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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