Emerson Electric (NYSE:EMR) Shares Gap Up Following Dividend Announcement

Emerson Electric Co. (NYSE:EMR)’s share price gapped up before the market opened on Tuesday following a dividend announcement from the company. The stock had previously closed at $109.81, but opened at $115.75. Emerson Electric shares last traded at $119.09, with a volume of 867,828 shares traded.

The newly announced dividend which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.5275 dividend. 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 yield of 1.79%. Emerson Electric’s dividend payout ratio is presently 70.47%.

Analyst Ratings Changes

EMR has been the subject of a number of recent analyst reports. Oppenheimer boosted their price objective on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Robert W. Baird increased their price objective on shares of Emerson Electric from $117.00 to $118.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley assumed coverage on shares of Emerson Electric in a research note on Friday, September 6th. They set an “underweight” rating and a $105.00 target price for the company. Barclays decreased their price target on shares of Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company reduced their target price on Emerson Electric from $137.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.53.

Emerson Electric Stock Up 7.2 %

The business has a fifty day moving average of $107.04 and a 200 day moving average of $108.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 0.86. The stock has a market capitalization of $67.39 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 1.66 and a beta of 1.30.

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

Institutional Investors Weigh In On Emerson Electric

A number of institutional investors and hedge funds have recently made changes to their positions in EMR. Norden Group LLC acquired a new stake in shares of Emerson Electric in the first quarter valued at $231,000. Mediolanum International Funds Ltd purchased a new stake in Emerson Electric during the first quarter worth about $398,000. Signaturefd LLC lifted its position in shares of Emerson Electric by 6.9% during the first quarter. Signaturefd LLC now owns 12,121 shares of the industrial products company’s stock worth $1,375,000 after purchasing an additional 780 shares in the last quarter. Blue Square Asset Management LLC boosted its stake in shares of Emerson Electric by 15.6% in the first quarter. Blue Square Asset Management LLC now owns 18,398 shares of the industrial products company’s stock valued at $2,087,000 after purchasing an additional 2,489 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Emerson Electric by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 118,175 shares of the industrial products company’s stock valued at $13,403,000 after purchasing an additional 467 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other 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.