Emerson Electric (NYSE:EMR) Sets New 52-Week High on Analyst Upgrade

Emerson Electric Co. (NYSE:EMR - Get Free Report)'s stock price reached a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $135.00 to $150.00. Wells Fargo & Company currently has an overweight rating on the stock. Emerson Electric traded as high as $135.57 and last traded at $135.11, with a volume of 845964 shares. The stock had previously closed at $133.33.

Other analysts also recently issued reports about the company. Wall Street Zen raised Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Robert W. Baird cut their price objective on Emerson Electric from $140.00 to $130.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. KeyCorp raised their price objective on Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada raised their price objective on Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.65.

Insider Activity

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $113.33, for a total value of $1,892,384.34. Following the completion of the transaction, the chief executive officer owned 164,957 shares in the company, valued at approximately $18,694,576.81. This trade represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Emerson Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Emerson Electric in the fourth quarter valued at approximately $885,886,000. Nuveen LLC purchased a new stake in Emerson Electric during the first quarter worth $737,318,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Emerson Electric by 3,866.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,022,517 shares of the industrial products company's stock valued at $374,581,000 after acquiring an additional 2,946,310 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Emerson Electric in the fourth quarter valued at $297,947,000. Finally, Pacer Advisors Inc. lifted its position in Emerson Electric by 4,583.7% during the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock worth $239,569,000 after buying an additional 2,138,397 shares during the period. Hedge funds and other institutional investors own 74.30% of the company's stock.

Emerson Electric Price Performance

The company has a 50-day moving average of $119.01 and a two-hundred day moving average of $118.08. The stock has a market capitalization of $76.19 billion, a PE ratio of 32.40, a P/E/G ratio of 2.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59.

Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.41 by $0.07. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a return on equity of 13.22% and a net margin of 13.60%. The firm's revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. Sell-side analysts predict that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a dividend of $0.5275 per share. The ex-dividend date was Friday, May 16th. This represents a $2.11 dividend on an annualized basis and a yield of 1.56%. Emerson Electric's dividend payout ratio (DPR) is presently 50.48%.

About Emerson Electric

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.