Emerson Electric (NYSE:EMR) Reaches New 52-Week High After Dividend Announcement

Emerson Electric Co. (NYSE:EMR)’s share price reached a new 52-week high during trading on Wednesday after the company announced a dividend. The stock traded as high as $125.49 and last traded at $124.45, with a volume of 75946 shares traded. 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 paid a dividend of $0.5275 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.66%. Emerson Electric’s dividend payout ratio (DPR) is presently 70.47%.

Analysts Set New Price Targets

A number of research analysts have weighed in on EMR shares. KeyCorp lifted their price objective on shares of Emerson Electric from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer increased their target price on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Royal Bank of Canada dropped their target price on shares of Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $132.00 to $115.00 in a research report on Wednesday, August 14th. Finally, Barclays boosted their price objective on Emerson Electric from $103.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.65.

Emerson Electric Stock Up 7.8 %

The business has a 50 day simple moving average of $107.50 and a 200 day simple moving average of $109.05. The company has a market capitalization of $72.65 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 1.66 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. As a group, equities analysts predict that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Emerson Electric

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrive Wealth Management LLC lifted its holdings in Emerson Electric by 4.1% during the 2nd quarter. Thrive Wealth Management LLC now owns 2,319 shares of the industrial products company’s stock worth $255,000 after buying an additional 91 shares during the last quarter. LCM Capital Management Inc grew its position in shares of Emerson Electric by 1.4% in the 2nd quarter. LCM Capital Management Inc now owns 6,787 shares of the industrial products company’s stock valued at $748,000 after buying an additional 91 shares during the last quarter. Sabal Trust CO boosted its stake in Emerson Electric by 2.2% in the second quarter. Sabal Trust CO now owns 4,308 shares of the industrial products company’s stock valued at $475,000 after acquiring an additional 93 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in shares of Emerson Electric by 3.7% during the second quarter. Catalyst Financial Partners LLC now owns 2,609 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 94 shares during the last quarter. Finally, PFG Advisors lifted its holdings in shares of Emerson Electric by 3.8% in the 1st quarter. PFG Advisors now owns 2,591 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company’s stock.

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.