Emerson Electric (NYSE:EMR) Price Target Cut to $79.00

Emerson Electric (NYSE:EMR) had its price objective dropped by investment analysts at Citigroup from $80.00 to $79.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup‘s target price would indicate a potential upside of 23.13% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Gold Resource from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Credit Suisse Group restated an “outperform” rating on shares of in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $75.65.

Shares of NYSE EMR traded up $0.46 during trading on Tuesday, reaching $64.16. The company had a trading volume of 2,077,835 shares, compared to its average volume of 3,297,230. Emerson Electric has a 12-month low of $55.38 and a 12-month high of $79.70. The stock has a market cap of $39.15 billion, a PE ratio of 18.98, a PEG ratio of 2.09 and a beta of 1.33. The business’s 50-day moving average is $63.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 1.07.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.84. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts forecast that Emerson Electric will post 3.65 EPS for the current year.

In other Emerson Electric news, insider Michael H. Train sold 12,278 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.80, for a total transaction of $783,336.40. Following the completion of the transaction, the insider now owns 129,298 shares in the company, valued at approximately $8,249,212.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bell Katherine Button sold 4,470 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $65.00, for a total value of $290,550.00. Following the transaction, the vice president now owns 18,040 shares of the company’s stock, valued at approximately $1,172,600. The disclosure for this sale can be found here. Insiders have sold 40,333 shares of company stock valued at $2,583,230 in the last quarter. 0.07% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EMR. Glassman Wealth Services lifted its stake in shares of Emerson Electric by 240.7% during the 1st quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 284 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Emerson Electric during the 1st quarter valued at $34,000. Legacy Advisors LLC bought a new stake in Emerson Electric during the 1st quarter valued at $41,000. Buffington Mohr McNeal bought a new stake in Emerson Electric during the 1st quarter valued at $41,000. Finally, Rational Advisors LLC bought a new stake in Emerson Electric during the 1st quarter valued at $41,000. Institutional investors and hedge funds own 70.45% of the company’s stock.

Emerson Electric Company Profile

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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