Emerson Electric (NYSE:EMR) Reaches New 1-Year High After Better-Than-Expected Earnings

Emerson Electric Co. (NYSE:EMR) shares reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $115.33 and last traded at $114.88, with a volume of 449872 shares. The stock had previously closed at $112.65.

The industrial products company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.25 by $0.11. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. Emerson Electric had a net margin of 69.33% and a return on equity of 11.59%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.82%. The ex-dividend date is Thursday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is 10.94%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup raised their target price on shares of Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a report on Monday, April 8th. Bank of America upped their target price on Emerson Electric from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, March 4th. UBS Group raised their price target on Emerson Electric from $95.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Robert W. Baird reduced their price objective on Emerson Electric from $120.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Berenberg Bank boosted their target price on shares of Emerson Electric from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Emerson Electric presently has an average rating of “Moderate Buy” and an average price target of $119.41.

Institutional Investors Weigh In On Emerson Electric

A number of hedge funds have recently bought and sold shares of EMR. PFG Advisors grew its holdings in Emerson Electric by 3.8% during the 1st quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 96 shares in the last quarter. Lake Street Private Wealth LLC raised its position in shares of Emerson Electric by 2.3% during the 1st quarter. Lake Street Private Wealth LLC now owns 4,412 shares of the industrial products company’s stock valued at $500,000 after acquiring an additional 99 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in Emerson Electric by 1.7% in the first quarter. Harbour Capital Advisors LLC now owns 6,136 shares of the industrial products company’s stock worth $695,000 after acquiring an additional 100 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of Emerson Electric by 1.0% during the fourth quarter. Financial Advocates Investment Management now owns 10,208 shares of the industrial products company’s stock valued at $994,000 after purchasing an additional 101 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in Emerson Electric by 1.3% in the first quarter. Manchester Capital Management LLC now owns 7,992 shares of the industrial products company’s stock valued at $906,000 after buying an additional 102 shares during the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

Emerson Electric Stock Up 2.6 %

The firm has a market cap of $65.98 billion, a P/E ratio of 6.02, a price-to-earnings-growth ratio of 1.84 and a beta of 1.36. The firm’s 50-day moving average price is $110.75 and its 200 day moving average price is $100.04. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 0.29.

Emerson Electric Company Profile

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.