Emerson Electric (NYSE:EMR) Authorizes Stock Buyback Plan

Emerson Electric (NYSE:EMR) declared that its board has initiated a share repurchase program on Wednesday, November 5th, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stephens upped their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Daiwa Capital Markets boosted their price objective on shares of Emerson Electric from $150.00 to $153.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. raised their target price on Emerson Electric from $135.00 to $151.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Jefferies Financial Group lowered their target price on Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada upped their price target on Emerson Electric from $154.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Emerson Electric currently has an average rating of “Moderate Buy” and an average target price of $148.28.

Emerson Electric Stock Down 3.9%

EMR opened at $132.42 on Thursday. The stock has a market cap of $74.53 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 2.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The firm’s fifty day moving average is $132.48 and its 200 day moving average is $129.32. Emerson Electric has a fifty-two week low of $90.06 and a fifty-two week high of $150.27.

Emerson Electric (NYSE:EMR) last issued its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The business had revenue of $3.16 billion during the quarter. On average, sell-side analysts forecast that Emerson Electric will post 5.96 earnings per share for the current fiscal year.

Emerson Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a dividend of $0.555 per share. This is a boost from Emerson Electric’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.22 annualized dividend and a yield of 1.7%. Emerson Electric’s dividend payout ratio is 45.38%.

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.