Emerson Electric (NYSE:EMR) Earns "Equal Weight" Rating from Wells Fargo & Company

Key Points

• Wells Fargo & Company has reaffirmed an "equal weight" rating on Emerson Electric's stock with a reduced target price of $140, suggesting a potential upside of 3.86% from its previous close.
• Multiple analysts have issued updated ratings, with Citigroup raising their target price to $165 and giving a "buy" rating, while the consensus price target across analysts is currently $144.29.
• Emerson Electric recently reported $1.52 earnings per share, slightly exceeding expectations, along with a 3.9% year-over-year revenue increase, indicating solid financial performance.

Emerson Electric (NYSE:EMR - Get Free Report)'s stock had its "equal weight" rating reaffirmed by investment analysts at Wells Fargo & Company in a research note issued to investors on Monday,Benzinga reports. They presently have a $140.00 target price on the industrial products company's stock, down from their previous target price of $150.00. Wells Fargo & Company's price target would suggest a potential upside of 3.86% from the company's previous close.

A number of other analysts have also weighed in on the stock. Citigroup increased their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Stephens increased their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Emerson Electric from $157.00 to $159.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Emerson Electric in a report on Saturday, September 27th. Finally, Bank of America raised their price objective on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.29.

Emerson Electric Stock Performance

NYSE EMR opened at $134.79 on Monday. The company has a 50-day simple moving average of $134.13 and a two-hundred day simple moving average of $124.73. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Emerson Electric has a 12-month low of $90.06 and a 12-month high of $150.27. The firm has a market cap of $75.86 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.34 and a beta of 1.29.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.01. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The company's revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Emerson Electric will post 5.96 EPS for the current year.

Institutional Trading of Emerson Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Saudi Central Bank bought a new position in Emerson Electric in the 1st quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Emerson Electric during the first quarter worth $27,000. Inlight Wealth Management LLC purchased a new position in shares of Emerson Electric during the first quarter worth $28,000. Fourth Dimension Wealth LLC raised its holdings in shares of Emerson Electric by 145.3% during the first quarter. Fourth Dimension Wealth LLC now owns 260 shares of the industrial products company's stock worth $29,000 after purchasing an additional 154 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in Emerson Electric during the second quarter valued at $29,000. 74.30% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.