Emerson Electric Co. (NYSE:EMR) to Issue Quarterly Dividend of $0.53

Emerson Electric Co. (NYSE:EMR) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Investors of record on Friday, August 16th will be paid a dividend of 0.525 per share by the industrial products company on Tuesday, September 10th. This represents a $2.10 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, August 16th.

Emerson Electric has raised its dividend by an average of 1.3% per year over the last three years and has raised its dividend annually for the last 67 consecutive years. Emerson Electric has a payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Emerson Electric to earn $5.93 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 35.4%.

Emerson Electric Stock Down 0.6 %

Shares of NYSE EMR opened at $103.50 on Thursday. The firm has a market cap of $59.21 billion, a price-to-earnings ratio of 5.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.32. The company’s 50-day simple moving average is $110.31 and its 200-day simple moving average is $109.40. 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 has a 52-week low of $83.10 and a 52-week high of $119.53.

Emerson Electric (NYSE:EMR) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 64.97% and a return on equity of 11.14%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. Equities analysts predict that Emerson Electric will post 5.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on EMR. Royal Bank of Canada reduced their target price on shares of Emerson Electric from $140.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $132.00 to $115.00 in a report on Wednesday. Redburn Atlantic began coverage on shares of Emerson Electric in a research report on Monday, July 8th. They set a “buy” rating and a $135.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating and lifted their target price for the company from $123.00 to $138.00 in a report on Thursday, May 9th. Finally, Oppenheimer decreased their price target on Emerson Electric from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

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.