Emerson Electric (NYSE:EMR) Board of Directors Announces Share Repurchase Plan

Emerson Electric (NYSE:EMR) declared that its Board of Directors has approved a stock buyback plan 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 purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Emerson Electric Stock Down 1.7%

NYSE EMR opened at $129.27 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. Emerson Electric has a 52 week low of $90.06 and a 52 week high of $150.27. The firm has a market capitalization of $72.75 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 2.36 and a beta of 1.30. The company has a fifty day moving average of $132.37 and a two-hundred day moving average of $129.56.

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

Emerson Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $0.555 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.22 annualized dividend and a dividend yield of 1.7%. Emerson Electric’s dividend payout ratio (DPR) is currently 45.38%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EMR. JPMorgan Chase & Co. increased their target price on Emerson Electric from $135.00 to $151.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada reduced their price objective on shares of Emerson Electric from $155.00 to $153.00 and set an “outperform” rating on the stock in a research report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of Emerson Electric in a research report on Wednesday, October 8th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $140.00 price target (down from $150.00) on shares of Emerson Electric in a report on Monday, October 6th. Finally, Barclays increased their price objective on shares of Emerson Electric from $127.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.61.

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.