Emerson Electric Co. (NYSE:EMR) declared a quarterly dividend on Tuesday, August 6th, RTT News reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.49 per share by the industrial products company on Tuesday, September 10th. This represents a $1.96 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, August 15th.
Emerson Electric has raised its dividend by an average of 1.0% per year over the last three years and has increased its dividend every year for the last 62 years. Emerson Electric has a payout ratio of 61.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Emerson Electric to earn $3.93 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 49.9%.
Emerson Electric stock opened at $59.19 on Wednesday. Emerson Electric has a 12-month low of $55.38 and a 12-month high of $79.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.18. The company has a 50-day simple moving average of $64.41. The company has a market capitalization of $36.56 billion, a PE ratio of 17.51, a PEG ratio of 2.00 and a beta of 1.32.
A number of analysts have recently commented on the company. Zacks Investment Research lowered Emerson Electric from a “hold” rating to a “sell” rating and set a $69.00 price target on the stock. in a research note on Tuesday, July 23rd. Morgan Stanley cut their price target on Emerson Electric from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank cut their price target on Emerson Electric from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Credit Suisse Group cut their price target on Emerson Electric from $74.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Argus lowered Emerson Electric from a “buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $73.40.
In other Emerson Electric news, insider Michael H. Train sold 12,278 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.80, for a total value of $783,336.40. Following the transaction, the insider now directly owns 129,298 shares of the company’s stock, valued at $8,249,212.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Bell Katherine Button sold 15,791 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $63.91, for a total value of $1,009,202.81. Following the completion of the transaction, the vice president now directly owns 30,304 shares in the company, valued at $1,936,728.64. The disclosure for this sale can be found here. Insiders have sold 40,333 shares of company stock worth $2,583,230 over the last three months. Insiders own 0.07% of the company’s stock.
Emerson Electric Company Profile
Emerson Electric Co, a technology and engineering company, provides various solutions to industrial, commercial, and consumer markets worldwide. The company's Automation Solutions segment offers products and integrated solutions, including measurement and analytical instrumentation; valves, actuators, and regulators; industrial solutions; and process control systems and solutions.
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