Wells Fargo & Company Cuts Emerson Electric (NYSE:EMR) Price Target to $128.00

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

Other analysts have also recently issued research reports about the stock. Barclays increased their price target on shares of Emerson Electric from $105.00 to $110.00 and gave the stock an equal weight rating in a research note on Friday, May 10th. Mizuho raised their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft upgraded shares of 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 note on Thursday, May 9th. Loop Capital raised their target price on shares of Emerson Electric from $130.00 to $135.00 and gave the stock a buy rating in a research note on Friday, May 10th. Finally, Redburn Atlantic started coverage on shares of Emerson Electric in a research note on Monday, July 8th. They issued a buy rating and a $135.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $123.89.

Emerson Electric Stock Down 0.8 %

Shares of NYSE EMR traded down $0.81 during mid-day trading on Thursday, reaching $102.88. The company had a trading volume of 335,560 shares, compared to its average volume of 2,673,010. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $110.58 and a two-hundred day simple moving average of $109.33. The stock has a market cap of $58.86 billion, a P/E ratio of 5.55, a PEG ratio of 1.93 and a beta of 1.32. Emerson Electric has a 52-week low of $83.10 and a 52-week high of $119.53.

Emerson Electric (NYSE:EMR) last issued its quarterly 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. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. Emerson Electric’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS. Sell-side analysts predict that Emerson Electric will post 5.47 earnings per share for the current year.

Emerson Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.10 dividend on an annualized basis and a yield of 2.04%. Emerson Electric’s dividend payout ratio (DPR) is 11.24%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Waterloo Capital L.P. lifted its position in shares of Emerson Electric by 11.1% during the second quarter. Waterloo Capital L.P. now owns 13,055 shares of the industrial products company’s stock worth $1,438,000 after purchasing an additional 1,303 shares in the last quarter. O Brien Greene & Co. Inc lifted its position in shares of Emerson Electric by 0.8% during the second quarter. O Brien Greene & Co. Inc now owns 18,801 shares of the industrial products company’s stock worth $2,071,000 after purchasing an additional 140 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Emerson Electric by 23.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,473 shares of the industrial products company’s stock worth $7,203,000 after purchasing an additional 12,297 shares in the last quarter. Tredje AP fonden increased its stake in shares of Emerson Electric by 5.6% in the second quarter. Tredje AP fonden now owns 205,848 shares of the industrial products company’s stock worth $22,676,000 after buying an additional 11,000 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Emerson Electric by 30.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 106,677 shares of the industrial products company’s stock worth $11,752,000 after buying an additional 25,162 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.

About Emerson Electric

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.