Morgan Stanley Boosts Emerson Electric (NYSE:EMR) Price Target to $59.00

Emerson Electric (NYSE:EMR) had its price objective hoisted by Morgan Stanley from $54.00 to $59.00 in a research note published on Tuesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on EMR. Zacks Investment Research raised Emerson Electric from a sell rating to a hold rating and set a $60.00 target price on the stock in a research report on Tuesday, May 19th. Royal Bank of Canada dropped their target price on Emerson Electric from $51.00 to $50.00 and set a sector perform rating on the stock in a research report on Wednesday, April 22nd. Vertical Research lowered Emerson Electric from a buy rating to a hold rating and set a $49.00 target price on the stock. in a research report on Monday, March 23rd. Deutsche Bank lowered their price target on Emerson Electric from $93.00 to $59.00 and set a buy rating on the stock in a research report on Thursday, April 9th. Finally, Cowen reaffirmed a hold rating and set a $63.00 price target on shares of Emerson Electric in a research report on Wednesday, April 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $64.47.

NYSE:EMR opened at $61.66 on Tuesday. Emerson Electric has a fifty-two week low of $37.75 and a fifty-two week high of $78.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market capitalization of $36.57 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 3.19 and a beta of 1.50. The business’s 50-day simple moving average is $60.37 and its 200-day simple moving average is $63.01.

Emerson Electric (NYSE:EMR) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.12. Emerson Electric had a return on equity of 26.66% and a net margin of 12.04%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the firm earned $0.84 EPS. Emerson Electric’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts expect that Emerson Electric will post 3.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.24%. Emerson Electric’s dividend payout ratio is currently 54.20%.

In related news, COO Steven J. Pelch sold 5,061 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $67.51, for a total value of $341,668.11. Also, VP Bell Katherine Button sold 687 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $62.27, for a total value of $42,779.49. Following the completion of the sale, the vice president now owns 29,741 shares of the company’s stock, valued at $1,851,972.07. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EMR. Verus Capital Partners LLC bought a new stake in shares of Emerson Electric during the 4th quarter valued at $27,000. Brooktree Capital Management bought a new stake in shares of Emerson Electric during the 4th quarter valued at $29,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Emerson Electric during the 4th quarter valued at $38,000. Wealth Quarterback LLC bought a new stake in shares of Emerson Electric during the 4th quarter valued at $38,000. Finally, Ballast Advisors LLC bought a new stake in shares of Emerson Electric during the 1st quarter valued at $25,000. Institutional investors and hedge funds own 71.57% of the company’s stock.

About Emerson Electric

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.

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