Emerson Electric (NYSE:EMR) Reaches New 1-Year High Following Dividend Announcement

Emerson Electric Co. (NYSE:EMR) shares hit a new 52-week high 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 changing hands. The stock had previously closed at $117.67.

The newly announced dividend which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.5275 dividend. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, November 15th. Emerson Electric’s dividend payout ratio (DPR) is presently 70.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EMR shares. KeyCorp upped their price objective on Emerson Electric from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered Emerson Electric from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $132.00 to $115.00 in a report on Wednesday, August 14th. Royal Bank of Canada cut their price objective 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. Morgan Stanley initiated coverage on shares of Emerson Electric in a report on Friday, September 6th. They issued an “underweight” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of Emerson Electric from $128.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.65.

Emerson Electric Trading Up 7.8 %

The company’s 50 day simple moving average is $107.50 and its two-hundred day simple moving average is $109.05. The company has a market capitalization of $72.65 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 1.66 and a beta of 1.30. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

Emerson Electric (NYSE:EMR) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 11.41% and a net margin of 10.12%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. As a group, research analysts anticipate that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Frazier Financial Advisors LLC purchased a new position in Emerson Electric in the 3rd quarter worth $33,000. Natixis Advisors LLC raised its position in Emerson Electric by 5.5% during the 3rd quarter. Natixis Advisors LLC now owns 331,966 shares of the industrial products company’s stock worth $36,307,000 after buying an additional 17,372 shares during the last quarter. Coastline Trust Co boosted its holdings in shares of Emerson Electric by 0.7% in the 3rd quarter. Coastline Trust Co now owns 27,219 shares of the industrial products company’s stock valued at $2,977,000 after acquiring an additional 202 shares during the last quarter. Linscomb Wealth Inc. increased its stake in shares of Emerson Electric by 1.4% in the third quarter. Linscomb Wealth Inc. now owns 35,019 shares of the industrial products company’s stock worth $3,830,000 after acquiring an additional 485 shares during the period. Finally, Altrius Capital Management Inc raised its holdings in shares of Emerson Electric by 3.1% during the third quarter. Altrius Capital Management Inc now owns 43,883 shares of the industrial products company’s stock worth $4,799,000 after purchasing an additional 1,317 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.