Emerson Electric (NYSE:EMR) Sets New 12-Month High on Better-Than-Expected Earnings

Shares of Emerson Electric Co. (NYSE:EMRGet Free Report) hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $103.34 and last traded at $103.11, with a volume of 1488994 shares changing hands. The stock had previously closed at $94.26.

The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. Emerson Electric had a net margin of 69.33% and a return on equity of 11.59%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis.

Emerson Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 16th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, February 15th. Emerson Electric’s dividend payout ratio is currently 10.94%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EMR. StockNews.com downgraded shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Royal Bank of Canada lifted their target price on Emerson Electric from $106.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday. KeyCorp increased their price target on Emerson Electric from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday. Mizuho boosted their price objective on shares of Emerson Electric from $118.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup dropped their price objective on shares of Emerson Electric from $112.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.17.

View Our Latest Report on EMR

Insider Buying and Selling

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average cost of $88.20 per share, for a total transaction of $882,000.00. Following the transaction, the chief executive officer now directly owns 148,542 shares of the company’s stock, valued at $13,101,404.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Emerson Electric

Several institutional investors and hedge funds have recently made changes to their positions in EMR. West Coast Financial LLC purchased a new position in Emerson Electric in the 2nd quarter valued at about $206,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Emerson Electric in the 3rd quarter valued at about $320,000. Kathmere Capital Management LLC purchased a new position in Emerson Electric in the 3rd quarter valued at about $221,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Emerson Electric by 52.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 406,809 shares of the industrial products company’s stock valued at $39,286,000 after purchasing an additional 140,438 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Emerson Electric by 174.7% during the 3rd quarter. Gradient Investments LLC now owns 1,129 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 718 shares during the last quarter. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Stock Performance

The stock’s 50 day moving average price is $94.52 and its 200 day moving average price is $94.05. The company has a current ratio of 1.12, a quick ratio of 2.35 and a debt-to-equity ratio of 0.29. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 5.33, a P/E/G ratio of 1.89 and a beta of 1.34.

Emerson Electric Company Profile

(Get Free Report)

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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