Emerson Electric Co. (NYSE:EMR) – Investment analysts at Oppenheimer reduced their FY2019 EPS estimates for Emerson Electric in a research report issued to clients and investors on Monday, July 29th. Oppenheimer analyst C. Glynn now forecasts that the industrial products company will earn $3.60 per share for the year, down from their previous forecast of $3.65. Oppenheimer also issued estimates for Emerson Electric’s FY2020 earnings at $3.90 EPS.
Several other equities research analysts have also recently weighed in on EMR. Citigroup dropped their price objective on Emerson Electric from $79.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday. Zacks Investment Research cut Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price objective for the company. in a report on Tuesday, July 23rd. Finally, Credit Suisse Group lowered their target price on Emerson Electric from $80.00 to $74.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $75.19.
Emerson Electric (NYSE:EMR) last released its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.84 earnings per share for the quarter, hitting the consensus estimate of $0.84. Emerson Electric had a return on equity of 24.63% and a net margin of 12.81%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the business posted $0.76 EPS. The business’s revenue was up 7.6% on a year-over-year basis.
In related news, insider Michael H. Train sold 12,278 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 129,298 shares of the company’s stock, valued at approximately $8,249,212.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Bell Katherine Button sold 4,470 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $65.00, for a total value of $290,550.00. Following the transaction, the vice president now directly owns 18,040 shares of the company’s stock, valued at approximately $1,172,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,333 shares of company stock valued at $2,583,230. 0.07% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Glassman Wealth Services increased its position in Emerson Electric by 240.7% during the 1st quarter. Glassman Wealth Services now owns 402 shares of the industrial products company’s stock valued at $28,000 after buying an additional 284 shares in the last quarter. Larson Financial Group LLC increased its position in Emerson Electric by 80.3% during the 2nd quarter. Larson Financial Group LLC now owns 440 shares of the industrial products company’s stock valued at $29,000 after buying an additional 196 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Emerson Electric during the 1st quarter valued at approximately $34,000. Westside Investment Management Inc. bought a new position in Emerson Electric during the 2nd quarter valued at approximately $34,000. Finally, Legacy Advisors LLC bought a new position in Emerson Electric during the 1st quarter valued at approximately $41,000. 70.41% of the stock is owned by institutional investors.
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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