Wells Fargo & Company Boosts Emerson Electric (NYSE:EMR) Price Target to $137.00

Emerson Electric (NYSE:EMR) had its target price hoisted by Wells Fargo & Company from $133.00 to $137.00 in a research report report published on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities research analysts have also commented on the company. Bank of America raised their price objective on Emerson Electric from $120.00 to $130.00 and gave the stock a buy rating in a research report on Monday, March 4th. Barclays upped their target price on Emerson Electric from $105.00 to $110.00 and gave the company an equal weight rating in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a hold rating to a buy rating and upped their target price for the company from $123.00 to $138.00 in a report on Thursday, May 9th. Mizuho upped their target price on Emerson Electric from $130.00 to $135.00 and gave the company a buy rating in a report on Thursday, May 9th. Finally, Citigroup upped their target price on Emerson Electric from $120.00 to $133.00 and gave the company a buy rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned 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 $122.76.

Emerson Electric Trading Up 1.7 %

Shares of EMR opened at $110.16 on Wednesday. The business’s 50-day moving average price is $110.00 and its 200 day moving average price is $105.70. The stock has a market capitalization of $63.02 billion, a P/E ratio of 5.89, a P/E/G ratio of 1.81 and a beta of 1.33. Emerson Electric has a 1-year low of $83.10 and a 1-year high of $116.76. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.11. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. Emerson Electric’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. Analysts expect that Emerson Electric will post 5.47 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, May 16th. Emerson Electric’s dividend payout ratio is 11.24%.

Hedge Funds Weigh In On Emerson Electric

Institutional investors have recently modified their holdings of the company. Morgan Stanley increased its position in Emerson Electric by 7.9% during the third quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock worth $1,327,876,000 after acquiring an additional 1,008,294 shares during the period. Wellington Management Group LLP increased its position in Emerson Electric by 12.5% during the fourth quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after acquiring an additional 1,488,948 shares during the period. Wells Fargo & Company MN increased its position in Emerson Electric by 0.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after acquiring an additional 62,105 shares during the period. Norges Bank bought a new position in Emerson Electric during the fourth quarter worth $764,604,000. Finally, Nordea Investment Management AB increased its position in Emerson Electric by 26.5% during the fourth quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after acquiring an additional 1,558,903 shares during the period. Institutional investors own 74.30% of the company’s stock.

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.