Wells Fargo & Company Increases Emerson Electric (NYSE:EMR) Price Target to $137.00

Emerson Electric (NYSE:EMR) had its price target increased by Wells Fargo & Company from $133.00 to $137.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 26.51% from the stock’s previous close.

Several other equities analysts have also commented on EMR. Deutsche Bank Aktiengesellschaft upgraded Emerson Electric from a “hold” rating to a “buy” rating and upped their target price for the company from $123.00 to $138.00 in a research note on Thursday, May 9th. Mizuho upped their target price on Emerson Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Citigroup upped their target price on Emerson Electric from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Bank of America raised their price objective on Emerson Electric from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, Loop Capital raised their price objective on Emerson Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Four equities 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.76.

Emerson Electric Stock Performance

NYSE EMR opened at $108.29 on Wednesday. Emerson Electric has a fifty-two week low of $83.10 and a fifty-two week high of $116.76. The stock has a market cap of $61.95 billion, a price-to-earnings ratio of 5.77, a price-to-earnings-growth ratio of 1.80 and a beta of 1.33. The business has a fifty day moving average of $109.99 and a 200-day moving average of $105.43. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.28.

Emerson Electric (NYSE:EMR) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.11. Emerson Electric had a return on equity of 11.14% and a net margin of 64.97%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, analysts predict that Emerson Electric will post 5.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Morgan Stanley grew its position in shares of Emerson Electric by 7.9% in the 3rd quarter. Morgan Stanley now owns 13,750,393 shares of the industrial products company’s stock worth $1,327,876,000 after acquiring an additional 1,008,294 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Emerson Electric by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 13,435,524 shares of the industrial products company’s stock worth $1,307,680,000 after acquiring an additional 1,488,948 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Emerson Electric by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,654,285 shares of the industrial products company’s stock worth $1,036,982,000 after acquiring an additional 62,105 shares in the last quarter. Norges Bank acquired a new position in shares of Emerson Electric in the 4th quarter worth approximately $764,604,000. Finally, Nordea Investment Management AB grew its position in shares of Emerson Electric by 26.5% in the 4th quarter. Nordea Investment Management AB now owns 7,447,248 shares of the industrial products company’s stock worth $723,873,000 after acquiring an additional 1,558,903 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.

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.