Emerson Electric Co. (EMR) Plans Quarterly Dividend of $0.49
Emerson Electric Co. (NYSE:EMR) declared a quarterly dividend on Tuesday, November 6th, RTT News reports. Shareholders 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 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, November 15th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.49.
Emerson Electric has increased its dividend by an average of 3.0% annually over the last three years and has increased its dividend annually for the last 61 consecutive years. Emerson Electric has a dividend payout ratio of 61.4% indicating that its dividend is sufficiently covered by earnings. 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%.
Emerson Electric stock opened at $68.49 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The firm has a market cap of $43.91 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.11 and a beta of 1.20. Emerson Electric has a fifty-two week low of $57.47 and a fifty-two week high of $79.70.
A number of brokerages have recently commented on EMR. Cowen reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Emerson Electric in a research report on Tuesday. William Blair reaffirmed a “market perform” rating on shares of Emerson Electric in a research report on Tuesday. Deutsche Bank set a $79.00 price objective on Emerson Electric and gave the company a “buy” rating in a research report on Wednesday. ValuEngine downgraded Emerson Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Zacks Investment Research raised Emerson Electric from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $78.30.
In related news, President Edward L. Monser sold 30,000 shares of Emerson Electric stock in a transaction on Friday, September 7th. The stock was sold at an average price of $75.84, for a total value of $2,275,200.00. Following the transaction, the president now owns 176,477 shares in the company, valued at $13,384,015.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven J. Pelch sold 6,409 shares of Emerson Electric stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $74.24, for a total value of $475,804.16. The disclosure for this sale can be found here. Insiders sold 96,409 shares of company stock worth $7,317,004 in the last quarter. 0.79% of the stock is owned by insiders.
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Emerson Electric Company Profile
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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