Emerson Electric Co. (NYSE:EMR) declared a quarterly dividend on Tuesday, November 6th, RTT News reports. Stockholders of record on Friday, November 16th will be given a dividend of 0.49 per share by the industrial products company on Monday, December 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Thursday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.49.
Emerson Electric has increased its dividend payment by an average of 3.0% annually over the last three years and has raised its dividend annually for the last 61 consecutive years. Emerson Electric has a payout ratio of 61.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Emerson Electric to earn $4.13 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 47.5%.
NYSE EMR opened at $66.76 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The company has a market cap of $42.11 billion, a PE ratio of 19.75, a PEG ratio of 2.04 and a beta of 1.20. Emerson Electric has a one year low of $57.47 and a one year high of $79.70.
In related news, President Edward L. Monser sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $76.10, for a total transaction of $4,566,000.00. Following the sale, the president now owns 176,477 shares of the company’s stock, valued at $13,429,899.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Edward L. Monser sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $75.84, for a total value of $2,275,200.00. Following the sale, the president now directly owns 176,477 shares in the company, valued at approximately $13,384,015.68. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Emerson Electric stock. Cornerstone Advisors Inc. increased its position in shares of Emerson Electric Co. (NYSE:EMR) by 173.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,625 shares of the industrial products company’s stock after purchasing an additional 2,932 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Emerson Electric were worth $320,000 as of its most recent SEC filing. 70.17% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on EMR. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating in a research note on Tuesday. Robert W. Baird reduced their target price on Emerson Electric from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday. William Blair reiterated a “market perform” rating on shares of Emerson Electric in a research note on Tuesday, November 6th. UBS Group set a $85.00 target price on Emerson Electric and gave the stock a “buy” rating in a research note on Thursday, November 8th. Finally, Deutsche Bank set a $79.00 target price on Emerson Electric and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $78.41.
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About Emerson Electric
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and residential markets worldwide. The company's Automation Solutions segment offers software; measurement and analytical instrumentation; valves, actuators, and regulators; industry services and solutions; process control systems and solutions; and digital plant solutions.
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