BMO Capital Markets Upgrades Emerson Electric (NYSE:EMR) to Strong-Buy

Emerson Electric (NYSE:EMR) was upgraded by equities researchers at BMO Capital Markets from a “hold” rating to a “strong-buy” rating in a report issued on Sunday, Zacks reports.

EMR has been the topic of several other research reports. Wells Fargo & Company started coverage on Emerson Electric in a research report on Friday, September 25th. They set an “overweight” rating and a $177.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Emerson Electric from $169.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. BNP Paribas Exane lifted their target price on shares of Emerson Electric from $180.00 to $185.00 in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Emerson Electric from $169.00 to $174.00 and gave the stock a “hold” rating in a research note on Wednesday, September 30th. Finally, Stephens boosted their price objective on Emerson Electric from $155.00 to $160.00 in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $172.17.

Emerson Electric Stock Performance

Shares of EMR opened at $166.02 on Friday. Emerson Electric has a 1 year low of $122.64 and a 1 year high of $171.25. The stock’s fifty day moving average price is $157.23 and its two-hundred day moving average price is $147.26. The firm has a market cap of $92.99 billion, a PE ratio of 36.33, a PEG ratio of 2.33 and a beta of 1.23. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.90 and a quick ratio of 0.66.

Emerson Electric (NYSE:EMR) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.03. Emerson Electric had a net margin of 13.83% and a return on equity of 17.58%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business earned $1.52 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that Emerson Electric will post 6.56 EPS for the current year.

Insider Transactions at Emerson Electric

In other news, CEO Surendralal Karsanbhai sold 9,650 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $161.91, for a total value of $1,562,431.50. Following the completion of the sale, the chief executive officer directly owned 271,743 shares of the company’s stock, valued at approximately $43,997,909.13. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Emerson Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in EMR. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Emerson Electric by 9.4% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 101,731 shares of the industrial products company’s stock valued at $14,563,000 after purchasing an additional 8,700 shares during the period. BlackRock Inc. acquired a new position in Emerson Electric during the second quarter worth about $6,193,425,000. Corient Private Wealth LP acquired a new position in Emerson Electric during the second quarter worth about $129,817,000. Generali Investments Management Co LLC increased its holdings in Emerson Electric by 91.2% in the second quarter. Generali Investments Management Co LLC now owns 31,339 shares of the industrial products company’s stock valued at $4,486,000 after buying an additional 14,952 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Emerson Electric by 21.5% in the second quarter. Concurrent Investment Advisors LLC now owns 66,724 shares of the industrial products company’s stock valued at $9,552,000 after buying an additional 11,802 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

About Emerson Electric

Emerson Electric Co (NYSE: EMR) is a global technology and engineering company that provides automation, control, and industrial technology solutions. Its offerings include measurement and analytical instruments, control systems, valves, regulators, software, and related services used to improve the safety, efficiency, and reliability of industrial operations.

The company serves customers across industries such as energy, chemicals, life sciences, food and beverage, manufacturing, and commercial and residential applications.