Emerson Electric (NYSE:EMR) Given New $135.00 Price Target at Wells Fargo & Company

Emerson Electric (NYSE:EMR) had its target price boosted by stock analysts at Wells Fargo & Company from $128.00 to $135.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.87% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Stephens cut Emerson Electric from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $135.00 to $120.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Oppenheimer increased their price objective on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Emerson Electric presently has an average rating of “Moderate Buy” and a consensus price target of $127.71.

Emerson Electric Stock Performance

EMR traded up $8.65 during midday trading on Wednesday, reaching $126.32. The company had a trading volume of 2,015,891 shares, compared to its average volume of 2,704,591. Emerson Electric has a 1 year low of $83.10 and a 1 year high of $126.61. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market cap of $72.34 billion, a P/E ratio of 42.36, a P/E/G ratio of 1.66 and a beta of 1.30. The business has a 50-day moving average of $107.04 and a two-hundred day moving average of $108.92.

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, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. As a group, equities research analysts predict that Emerson Electric will post 5.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Emerson Electric

Hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Emerson Electric during the 3rd quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new position in Emerson Electric in the 1st quarter worth about $31,000. Meeder Asset Management Inc. boosted its position in Emerson Electric by 361.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after buying an additional 235 shares during the period. Morton Brown Family Wealth LLC bought a new stake in shares of Emerson Electric during the third quarter valued at approximately $33,000. Finally, Versant Capital Management Inc raised its position in Emerson Electric by 471.9% during 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 in the last quarter. 74.30% of the stock is currently owned by institutional investors.

Emerson Electric Company Profile

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.