Emerson Electric Co. (EMR) Plans $0.49 Quarterly Dividend

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.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.84 earnings per share for the quarter, meeting the consensus estimate of $0.84. Emerson Electric had a net margin of 12.81% and a return on equity of 24.65%. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Emerson Electric will post 3.67 EPS for the current fiscal year.

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.

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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.

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Dividend History for Emerson Electric (NYSE:EMR)

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