Emerson Electric Co. (NYSE:EMR) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Investors of record on Friday, May 17th will be given a dividend of 0.49 per share by the industrial products company on Monday, June 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, May 16th.
Emerson Electric has raised its dividend payment by an average of 1.0% annually over the last three years and has raised 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. Equities research analysts expect Emerson Electric to earn $4.06 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 48.3%.
Shares of NYSE:EMR opened at $66.93 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.62 and a debt-to-equity ratio of 0.39. Emerson Electric has a 1-year low of $55.38 and a 1-year high of $79.70. The company has a market cap of $41.06 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.12 and a beta of 1.23.
Several brokerages have weighed in on EMR. Zacks Investment Research raised shares of Emerson Electric from a “sell” rating to a “hold” rating in a report on Wednesday. Cowen reaffirmed a “buy” rating and set a $81.00 price target on shares of Emerson Electric in a report on Tuesday, February 5th. Credit Suisse Group lifted their price target on shares of Emerson Electric from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 6th. Morgan Stanley set a $77.00 price target on shares of Emerson Electric and gave the company a “buy” rating in a report on Friday, February 8th. Finally, Citigroup raised shares of Emerson Electric from a “neutral” rating to a “buy” rating and lifted their price target for the company from $67.00 to $81.00 in a report on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $76.41.
About Emerson Electric
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.
Further Reading: How do taxes affect a CDs total return?
Receive News & Ratings for Emerson Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emerson Electric and related companies with MarketBeat.com's FREE daily email newsletter.