Citigroup Inc. Reiterates “Sell” Rating for Emerson Electric Company (EMR)

Emerson Electric Company (NYSE:EMR)‘s stock had its “sell” rating reiterated by investment analysts at Citigroup Inc. in a research report issued on Monday. They currently have a $61.00 price objective on the industrial products company’s stock, up from their previous price objective of $58.00. Citigroup Inc.’s target price indicates a potential downside of 3.82% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price objective on shares of Emerson Electric in a research report on Wednesday, July 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $67.00 price objective (up from $64.00) on shares of Emerson Electric in a research report on Monday, October 2nd. BidaskClub upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. JMP Securities initiated coverage on shares of Emerson Electric in a research report on Monday, June 19th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.71.

Emerson Electric (NYSE EMR) opened at 63.42 on Monday. The stock has a 50 day moving average of $61.49 and a 200 day moving average of $59.98. Emerson Electric has a 1-year low of $49.22 and a 1-year high of $64.36. The stock has a market capitalization of $40.59 billion, a P/E ratio of 28.30 and a beta of 1.22.

Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Emerson Electric will post $2.61 earnings per share for the current year.

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In other Emerson Electric news, insider Robert T. Sharp sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total value of $117,980.00. Following the transaction, the insider now directly owns 64,290 shares in the company, valued at approximately $3,792,467.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new position in Emerson Electric in the 2nd quarter valued at about $109,000. Intellectus Partners LLC lifted its holdings in Emerson Electric by 0.3% in the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 7 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Emerson Electric in the 1st quarter valued at about $127,000. Mountain Capital Investment Advisors Inc purchased a new position in Emerson Electric in the 2nd quarter valued at about $129,000. Finally, AT Bancorp purchased a new position in Emerson Electric in the 2nd quarter valued at about $139,000. Institutional investors own 70.01% of the company’s stock.

About Emerson Electric

Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.

Analyst Recommendations for Emerson Electric (NYSE:EMR)

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