Emerson Electric (NYSE:EMR) Given New $128.00 Price Target at Wells Fargo & Company

Emerson Electric (NYSE:EMR) had its price objective reduced by Wells Fargo & Company from $137.00 to $128.00 in a research note issued to investors on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

A number of other research firms have also weighed in on EMR. Loop Capital raised their price target on shares of Emerson Electric from $130.00 to $135.00 and gave the company a buy rating in a research report on Friday, May 10th. Redburn Atlantic started coverage on shares of Emerson Electric in a research report on Monday, July 8th. They set a buy rating and a $135.00 price target for the company. Robert W. Baird decreased their price target on shares of Emerson Electric from $120.00 to $116.00 and set a neutral rating for the company in a research note on Thursday, May 9th. Oppenheimer dropped their price objective on Emerson Electric from $125.00 to $120.00 and set an outperform rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised Emerson Electric from a hold rating to a buy rating and raised their target price for the stock from $123.00 to $138.00 in a research report on Thursday, May 9th. Four equities research 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 has an average rating of Moderate Buy and an average price target of $123.89.

Emerson Electric Trading Down 0.8 %

Shares of EMR traded down $0.87 during mid-day trading on Thursday, reaching $103.74. 3,644,165 shares of the company were exchanged, compared to its average volume of 2,688,658. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.18. Emerson Electric has a 52 week low of $83.10 and a 52 week high of $119.53. The business has a 50 day simple moving average of $110.75 and a two-hundred day simple moving average of $109.08. The stock has a market capitalization of $59.35 billion, a PE ratio of 5.53, a PEG ratio of 1.93 and a beta of 1.32.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. Emerson Electric’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. On average, analysts predict that Emerson Electric will post 5.47 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, August 16th. Emerson Electric’s dividend payout ratio is presently 11.24%.

Institutional Investors Weigh In On Emerson Electric

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Emerson Electric by 25.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,352 shares of the industrial products company’s stock worth $53,955,000 after acquiring an additional 113,420 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Emerson Electric in the fourth quarter worth approximately $97,000. Tobam grew its position in Emerson Electric by 2,275.0% during the fourth quarter. Tobam now owns 285 shares of the industrial products company’s stock valued at $28,000 after buying an additional 273 shares during the period. Sequoia Financial Advisors LLC raised its position in Emerson Electric by 52.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 17,039 shares of the industrial products company’s stock worth $1,658,000 after acquiring an additional 5,846 shares during the period. Finally, Jmac Enterprises LLC raised its holdings in Emerson Electric by 19.4% in the 4th quarter. Jmac Enterprises LLC now owns 4,300 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 700 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.