Evercore ISI Initiates Coverage on Emerson Electric (NYSE:EMR)

Equities researchers at Evercore ISI initiated coverage on shares of Emerson Electric (NYSE:EMR) in a research note issued on Monday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $170.00 price target on the industrial products company’s stock. Evercore ISI’s price objective suggests a potential upside of 26.64% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $140.00 price target (down from $150.00) on shares of Emerson Electric in a report on Monday, October 6th. Wolfe Research raised their target price on shares of Emerson Electric from $165.00 to $168.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. JPMorgan Chase & Co. reduced their price target on Emerson Electric from $151.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Barclays raised their price objective on Emerson Electric from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $145.00 target price on shares of Emerson Electric in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.06.

Emerson Electric Stock Performance

Shares of Emerson Electric stock opened at $134.24 on Monday. Emerson Electric has a 12 month low of $90.06 and a 12 month high of $150.27. The stock’s fifty day moving average price is $132.32 and its 200-day moving average price is $133.40. The firm has a market cap of $75.48 billion, a P/E ratio of 33.23, a P/E/G ratio of 2.24 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 0.41.

Emerson Electric (NYSE:EMR) last posted its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. The business had revenue of $3.16 billion during the quarter. Emerson Electric had a net margin of 12.73% and a return on equity of 15.87%. On average, equities research analysts expect that Emerson Electric will post 5.96 earnings per share for the current fiscal year.

Emerson Electric announced that its Board of Directors has approved a share repurchase program on Wednesday, November 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total value of $965,979.00. Following the sale, the chief executive officer owned 196,292 shares in the company, valued at approximately $26,106,836. This represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Emerson Electric

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Emerson Electric by 0.4% in the third quarter. Vanguard Group Inc. now owns 54,330,938 shares of the industrial products company’s stock valued at $7,127,132,000 after purchasing an additional 201,040 shares during the period. State Street Corp lifted its position in shares of Emerson Electric by 3.0% during the 2nd quarter. State Street Corp now owns 27,053,019 shares of the industrial products company’s stock valued at $3,606,979,000 after buying an additional 784,987 shares in the last quarter. Wellington Management Group LLP grew its stake in Emerson Electric by 6.9% in the 1st quarter. Wellington Management Group LLP now owns 15,280,950 shares of the industrial products company’s stock valued at $1,675,403,000 after acquiring an additional 980,652 shares during the period. JPMorgan Chase & Co. increased its holdings in Emerson Electric by 75.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,538,402 shares of the industrial products company’s stock worth $1,671,762,000 after acquiring an additional 5,371,585 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Emerson Electric by 0.7% during the second quarter. Geode Capital Management LLC now owns 12,143,357 shares of the industrial products company’s stock worth $1,610,958,000 after acquiring an additional 89,192 shares during the period. 74.30% of the stock is owned by hedge funds and other institutional investors.

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.