Emerson Electric (NYSE:EMR) Hits New 52-Week High After Analyst Upgrade

Emerson Electric Co. (NYSE:EMR) shares reached a new 52-week high during mid-day trading on Thursday after Stephens raised their price target on the stock from $130.00 to $145.00. Stephens currently has an equal weight rating on the stock. Emerson Electric traded as high as $143.90 and last traded at $142.76, with a volume of 714300 shares trading hands. The stock had previously closed at $140.30.

EMR has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Barclays upped their target price on shares of Emerson Electric from $118.00 to $125.00 and gave the stock an “underweight” rating in a report on Wednesday, July 9th. TD Cowen raised shares of Emerson Electric to a “strong-buy” rating in a report on Tuesday, July 8th. Robert W. Baird dropped their price objective on shares of Emerson Electric from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Finally, Wells Fargo & Company upped their price objective on shares of Emerson Electric from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.28.

Insiders Place Their Bets

In related news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the transaction, the chief executive officer directly owned 164,957 shares in the company, valued at $18,694,576.81. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Emerson Electric

Hedge funds and other institutional investors have recently bought and sold shares of the company. MBA Advisors LLC boosted its position in shares of Emerson Electric by 38.1% during the 2nd quarter. MBA Advisors LLC now owns 4,021 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 1,110 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its position in shares of Emerson Electric by 8.3% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 14,254 shares of the industrial products company’s stock worth $1,900,000 after purchasing an additional 1,094 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Emerson Electric by 1.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 658,206 shares of the industrial products company’s stock worth $87,759,000 after purchasing an additional 8,054 shares in the last quarter. Venture Visionary Partners LLC boosted its position in shares of Emerson Electric by 64.5% during the 2nd quarter. Venture Visionary Partners LLC now owns 5,848 shares of the industrial products company’s stock worth $780,000 after purchasing an additional 2,294 shares in the last quarter. Finally, Invesco LLC boosted its position in shares of Emerson Electric by 7.1% during the 2nd quarter. Invesco LLC now owns 8,912 shares of the industrial products company’s stock worth $1,188,000 after purchasing an additional 591 shares in the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Stock Up 2.9%

The company has a market capitalization of $81.24 billion, a PE ratio of 34.55, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. The firm’s 50-day simple moving average is $127.64 and its 200 day simple moving average is $119.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.59 and a current ratio of 0.80.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.07. The business had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. As a group, equities research analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, May 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 50.48%.

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.