Emerson Electric Co. (NYSE:EMR) to Issue Quarterly Dividend of $0.59

Emerson Electric Co. (NYSE:EMR) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Friday, November 13th will be given a dividend of $0.5950 per share by the industrial products company on Thursday, December 10th. This represents a $2.38 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. This is a 7.2% increase from Emerson Electric’s previous quarterly dividend of $0.5550.

Emerson Electric has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Emerson Electric to earn $7.23 per share next year, which means the company should continue to be able to cover its $2.22 annual dividend with an expected future payout ratio of 30.7%.

Emerson Electric Stock Up 2.9%

Shares of NYSE:EMR traded up $4.78 on Wednesday, hitting $171.17. 4,736,133 shares of the company traded hands, compared to its average volume of 2,973,112. The company has a market cap of $95.87 billion, a PE ratio of 37.46, a PEG ratio of 2.31 and a beta of 1.23. The stock has a 50 day simple moving average of $157.41 and a 200-day simple moving average of $147.35. Emerson Electric has a 52 week low of $122.64 and a 52 week high of $172.00. The company has a quick ratio of 0.66, a current ratio of 0.90 and a debt-to-equity ratio of 0.37.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.85 by $0.01. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.11 billion. Emerson Electric had a net margin of 13.83% and a return on equity of 17.58%. Emerson Electric’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 EPS. As a group, research analysts expect that Emerson Electric will post 6.56 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Emerson Electric from $179.00 to $188.00 and gave the company an “outperform” rating in a research report on Wednesday, October 14th. Sanford C. Bernstein upped their price target on Emerson Electric from $169.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, August 14th. DA Davidson increased their price objective on Emerson Electric from $145.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, August 24th. Morgan Stanley decreased their target price on Emerson Electric from $145.00 to $140.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, Mizuho upped their target price on shares of Emerson Electric from $173.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.96.

About Emerson Electric

Emerson Electric Co (NYSE: EMR) is a global technology and engineering company that provides automation, control, and industrial technology solutions. Its offerings include measurement and analytical instruments, control systems, valves, regulators, software, and related services used to improve the safety, efficiency, and reliability of industrial operations.

The company serves customers across industries such as energy, chemicals, life sciences, food and beverage, manufacturing, and commercial and residential applications.