Emerson Electric (NYSE:EMR) Sets New 52-Week High After Strong Earnings

Emerson Electric Co. (NYSE:EMR) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.11. The firm 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 quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share.

Emerson Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EMR. Royal Bank of Canada raised their price objective on shares of Emerson Electric from $106.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Berenberg Bank boosted their price objective on Emerson Electric from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft raised Emerson Electric from a “hold” rating to a “buy” rating and lifted their price target for the stock from $123.00 to $138.00 in a research note on Thursday. Citigroup boosted their price target on shares of Emerson Electric from $120.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, UBS Group upped their price target on shares of Emerson Electric from $95.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EMR. Waverly Advisors LLC grew its holdings in Emerson Electric by 100.2% during the third quarter. Waverly Advisors LLC now owns 15,117 shares of the industrial products company’s stock valued at $1,460,000 after purchasing an additional 7,565 shares during the period. Blackston Financial Advisory Group LLC bought a new stake in shares of Emerson Electric in the 4th quarter valued at approximately $241,000. FMR LLC boosted its stake in Emerson Electric by 1.3% during the third quarter. FMR LLC now owns 3,233,697 shares of the industrial products company’s stock worth $312,278,000 after buying an additional 41,263 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Emerson Electric during the 3rd quarter worth about $320,000. Finally, Capital Advisors Inc. OK grew its stake in shares of Emerson Electric by 821.0% during the fourth quarter. Capital Advisors Inc. OK now owns 86,231 shares of the industrial products company’s stock valued at $8,393,000 after buying an additional 76,868 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Emerson Electric Stock Up 2.6 %

The company has a market cap of $65.98 billion, a P/E ratio of 6.02, a P/E/G ratio of 1.84 and a beta of 1.36. The company has a 50-day simple moving average of $110.75 and a 200 day simple moving average of $100.04. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 0.29.

About Emerson Electric

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.