Emerson Electric (NYSE:EMR) Downgraded to “Equal Weight” at Stephens

Stephens cut shares of Emerson Electric (NYSE:EMRFree Report) from an overweight rating to an equal weight rating in a report released on Wednesday, MarketBeat.com reports. The firm currently has $120.00 price objective on the industrial products company’s stock, down from their prior price objective of $135.00.

EMR has been the topic of a number of other research reports. Royal Bank of Canada dropped their price target on Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company cut their price target on shares of Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley assumed coverage on Emerson Electric in a report on Friday, September 6th. They set an “underweight” rating and a $105.00 price objective on the stock. JPMorgan Chase & Co. lowered shares of Emerson Electric from an “overweight” rating to a “neutral” rating and cut their price target for the company from $132.00 to $115.00 in a research report on Wednesday, August 14th. Finally, Barclays lowered their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.47.

Read Our Latest Report on EMR

Emerson Electric Stock Performance

NYSE:EMR opened at $110.44 on Wednesday. The company has a market capitalization of $63.18 billion, a PE ratio of 5.91, a P/E/G ratio of 1.70 and a beta of 1.30. Emerson Electric has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The company has a 50 day simple moving average of $105.66 and a two-hundred day simple moving average of $109.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16.

Emerson Electric (NYSE:EMRGet Free Report) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Emerson Electric had a return on equity of 11.41% and a net margin of 10.12%. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Emerson Electric’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts anticipate that Emerson Electric will post 5.48 earnings per share for the current year.

Emerson Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s payout ratio is 11.24%.

Hedge Funds Weigh In On Emerson Electric

Several hedge funds and other institutional investors have recently modified their holdings of EMR. Transcendent Capital Group LLC acquired a new position in shares of Emerson Electric in the 1st quarter valued at $31,000. Meeder Asset Management Inc. lifted its position in Emerson Electric by 361.5% during the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after buying an additional 235 shares in the last quarter. Tributary Capital Management LLC acquired a new position in Emerson Electric in the 1st quarter valued at about $35,000. Rise Advisors LLC acquired a new stake in shares of Emerson Electric during the 1st quarter worth about $36,000. Finally, Versant Capital Management Inc increased its holdings in Emerson Electric by 471.9% in the 2nd quarter. Versant Capital Management Inc now owns 326 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 269 shares during the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Emerson Electric Company Profile

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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.

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