Emerson Electric Co. (NYSE:EMR – Get Free Report)’s stock price reached a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $125.49 and last traded at $124.45, with a volume of 75946 shares. The stock had previously closed at $117.67.
The newly announced dividend which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. Emerson Electric’s dividend payout ratio (DPR) is 70.47%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on EMR shares. StockNews.com cut shares of Emerson Electric from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut Emerson Electric from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $132.00 to $115.00 in a report on Wednesday, August 14th. Wells Fargo & Company decreased their price objective on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Morgan Stanley began coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price for the company. Finally, Oppenheimer lifted their price target on Emerson Electric from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.53.
Emerson Electric Stock Performance
The company has a 50-day moving average price of $107.04 and a two-hundred day moving average price of $108.92. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $71.47 billion, a PE ratio of 39.49, a PEG ratio of 1.66 and a beta of 1.30.
Emerson Electric (NYSE:EMR – Get Free Report) last released its quarterly 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. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the business earned $1.29 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts predict that Emerson Electric Co. will post 5.48 EPS for the current fiscal year.
Institutional Investors Weigh In On Emerson Electric
Several hedge funds have recently bought and sold shares of EMR. Newport Trust Company LLC bought a new position in shares of Emerson Electric during the 2nd quarter valued at about $574,908,000. Pathway Financial Advisers LLC increased its stake in shares of Emerson Electric by 10,993.2% in the third quarter. Pathway Financial Advisers LLC now owns 2,070,428 shares of the industrial products company’s stock worth $226,443,000 after buying an additional 2,051,764 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Emerson Electric by 107.2% during the third quarter. Van ECK Associates Corp now owns 3,896,889 shares of the industrial products company’s stock worth $422,852,000 after purchasing an additional 2,016,075 shares during the period. Swedbank AB lifted its holdings in Emerson Electric by 127.3% in the 3rd quarter. Swedbank AB now owns 2,544,439 shares of the industrial products company’s stock worth $278,285,000 after buying an additional 1,424,800 shares during the period. Finally, Perpetual Ltd lifted its stake in Emerson Electric by 57,336.1% in the third quarter. Perpetual Ltd now owns 1,206,158 shares of the industrial products company’s stock worth $131,918,000 after acquiring an additional 1,204,058 shares during the period. 74.30% of the stock is currently owned by institutional investors.
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.
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