Citigroup Cuts Emerson Electric (NYSE:EMR) Price Target to $79.00

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Emerson Electric (NYSE:EMR) had its target price trimmed by Citigroup from $80.00 to $79.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on EMR. Credit Suisse Group reissued an outperform rating on shares of in a research note on Wednesday, June 5th. Zacks Investment Research cut Gold Resource from a hold rating to a sell rating in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $75.65.

Emerson Electric stock opened at $64.16 on Tuesday. The company has a market capitalization of $39.15 billion, a PE ratio of 18.98, a P/E/G ratio of 2.03 and a beta of 1.33. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.44. Emerson Electric has a fifty-two week low of $55.38 and a fifty-two week high of $79.70. The stock has a fifty day moving average price of $63.86.

Emerson Electric (NYSE:EMR) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.84 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.84. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.64 billion. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. As a group, equities research analysts forecast that Emerson Electric will post 3.65 EPS for the current year.

In other news, insider Michael H. Train sold 12,278 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.80, for a total transaction of $783,336.40. Following the transaction, the insider now directly owns 129,298 shares of the company’s stock, valued at $8,249,212.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bell Katherine Button sold 7,794 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $64.17, for a total value of $500,140.98. Following the transaction, the vice president now directly owns 22,510 shares in the company, valued at $1,444,466.70. The disclosure for this sale can be found here. Insiders have sold 40,333 shares of company stock worth $2,583,230 over the last ninety days. Insiders own 0.07% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Emerson Electric by 7.3% during the first quarter. BlackRock Inc. now owns 45,135,139 shares of the industrial products company’s stock worth $3,090,402,000 after purchasing an additional 3,058,256 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Emerson Electric by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 7,394,814 shares of the industrial products company’s stock worth $441,115,000 after purchasing an additional 355,369 shares during the period. Norges Bank purchased a new stake in shares of Emerson Electric during the fourth quarter worth about $430,663,000. FMR LLC boosted its holdings in shares of Emerson Electric by 83.1% during the fourth quarter. FMR LLC now owns 6,998,682 shares of the industrial products company’s stock worth $418,171,000 after purchasing an additional 3,176,614 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Emerson Electric by 9.1% during the fourth quarter. Legal & General Group Plc now owns 3,552,514 shares of the industrial products company’s stock worth $212,222,000 after purchasing an additional 297,731 shares during the period. Institutional investors own 70.45% of the company’s stock.

Emerson Electric Company Profile

Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.

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