Emerson Electric (NYSE:EMR) Price Target Cut to $79.00
Emerson Electric (NYSE:EMR) had its price target decreased by Citigroup from $80.00 to $79.00 in a report published on Tuesday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the industrial products company’s stock.
A number of other research firms also recently commented on EMR. Zacks Investment Research downgraded shares of Gold Resource from a hold rating to a sell rating in a research report on Friday, June 21st. Credit Suisse Group reaffirmed an outperform rating on shares of in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Emerson Electric has a consensus rating of Buy and a consensus price target of $75.65.
Shares of EMR opened at $64.16 on Tuesday. The company has a market capitalization of $39.15 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.03 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average price is $63.86. Emerson Electric has a twelve month low of $55.38 and a twelve month high of $79.70.
In other news, VP Bell Katherine Button sold 15,791 shares of Emerson Electric stock in a transaction on Friday, June 7th. The shares were sold at an average price of $63.91, for a total transaction of $1,009,202.81. Following the transaction, the vice president now owns 30,304 shares in the company, valued at approximately $1,936,728.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael H. Train sold 12,278 shares of Emerson Electric stock in a transaction on 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 owns 129,298 shares in the company, valued at approximately $8,249,212.40. The disclosure for this sale can be found here. Insiders have sold a total of 40,333 shares of company stock worth $2,583,230 in the last quarter. Corporate insiders own 0.07% of the company’s stock.
Several institutional investors have recently modified their holdings of EMR. Middleton & Co Inc MA purchased a new position in shares of Emerson Electric during the 1st quarter valued at $214,000. Harvey Investment Co. LLC purchased a new position in shares of Emerson Electric during the 1st quarter valued at $368,000. Headinvest LLC lifted its stake in shares of Emerson Electric by 97.0% during the 4th quarter. Headinvest LLC now owns 155,257 shares of the industrial products company’s stock valued at $9,277,000 after buying an additional 76,427 shares in the last quarter. Pioneer Trust Bank N A OR lifted its stake in shares of Emerson Electric by 5.3% during the 1st quarter. Pioneer Trust Bank N A OR now owns 7,579 shares of the industrial products company’s stock valued at $519,000 after buying an additional 379 shares in the last quarter. Finally, Pinnacle Bank purchased a new position in shares of Emerson Electric during the 4th quarter valued at $478,000. Institutional investors and hedge funds 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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