Emerson Electric’s (EMR) Buy Rating Reiterated at Cowen
Emerson Electric (NYSE:EMR)‘s stock had its “buy” rating reaffirmed by investment analysts at Cowen in a research report issued on Wednesday. They presently have a $72.00 price target on the industrial products company’s stock. Cowen’s price objective points to a potential upside of 11.23% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Emerson Electric from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. J P Morgan Chase & Co began coverage on shares of Emerson Electric in a report on Wednesday, November 29th. They issued a “neutral” rating for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $72.00 target price (up from $68.00) on shares of Emerson Electric in a report on Thursday, November 9th. Finally, Berenberg Bank reaffirmed a “sell” rating and issued a $53.00 target price on shares of Emerson Electric in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $65.21.
Shares of Emerson Electric (NYSE:EMR) traded up $0.05 during trading hours on Wednesday, hitting $64.73. 3,011,700 shares of the stock were exchanged, compared to its average volume of 3,435,235. Emerson Electric has a 1-year low of $55.40 and a 1-year high of $67.79. The company has a quick ratio of 1.30, a current ratio of 1.64 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $41,512.90, a PE ratio of 25.07, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.
In related news, VP Bell Katherine Button sold 7,909 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $64.78, for a total transaction of $512,345.02. Following the completion of the transaction, the vice president now directly owns 44,628 shares of the company’s stock, valued at $2,891,001.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Midwest Investment Management LLC purchased a new position in Emerson Electric in the first quarter valued at about $208,000. Tredje AP fonden grew its position in shares of Emerson Electric by 2.8% in the first quarter. Tredje AP fonden now owns 50,208 shares of the industrial products company’s stock valued at $3,005,000 after purchasing an additional 1,373 shares during the last quarter. Westpac Banking Corp grew its position in shares of Emerson Electric by 16.0% in the first quarter. Westpac Banking Corp now owns 46,120 shares of the industrial products company’s stock valued at $2,508,000 after purchasing an additional 6,349 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Emerson Electric by 11.7% in the first quarter. Alliancebernstein L.P. now owns 1,266,393 shares of the industrial products company’s stock valued at $75,806,000 after purchasing an additional 132,891 shares during the last quarter. Finally, AXA grew its position in shares of Emerson Electric by 21.7% in the first quarter. AXA now owns 454,037 shares of the industrial products company’s stock valued at $27,179,000 after purchasing an additional 81,032 shares during the last quarter. 69.00% of the stock is owned by hedge funds and other institutional investors.
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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