As I mentioned in my previous article, I was able to contribute $1500 to my TradeKing account recently (part of my Dividend Empire portfolio). Since commissions are so low in this account, just $4.95 per trade, I decided to split these funds into two purchases.
My first purchase was 54 shares of Ford (F), which brought my total share count to 154.978 and increased my forward dividend income by $32.40. That same day I decided to start a small position in Emerson Electric Company (EMR).
Emerson Electric provides technology and engineering solutions for industrial, commercial and consumer customers. The company has five business segments: process management, industrial automation, network power, climate technologies and commercial & residential solutions.
EMR received an above average score in my most recent dividend growth stock ranking screen (6.5/10). Here are the results for EMR:
Check out my dividend growth stock ranking system post for details on how these points are assigned.
EMR has raised their annual dividend for 58 consecutive years. For this reason alone I am comfortable saying that I will receive paychecks from EMR for many years to come.
They have a reasonable payout ratio of 49.5%, the current yield is a very healthy 3.4% and the 5 year dividend growth rate is 5.8% (6.9% if we count 2015, see below).
*Projected 2015 annual dividend payout
The projected 2015 dividend is $1.88 but this is assuming no increase (or decrease) for the rest of the year. EMR tends to increase dividends every November so I expect the annual total, and therefore the growth rate, to be higher than what’s shown in the graph.
Emerson Electric’s earnings have grown 6.2% annually over the past 5 years and analysts expect 7.6% annually over the next 5 years. EMR has a manageable 0.74 debt/equity ratio which has been increasing slightly over the years but nothing too alarming.
EMR is tracked by 21 analysts and the consensus price target is $59 – 6.4% over the stock price at the time of analysis. This percentage was good enough for 0.25 points when compared to the other stocks analyzed in my ranking screen.
Finally, EMR received max points for my chart parameter which I use for technical chart analysis. EMR is extremely oversold with an RSI around 25 and is resting around it’s $55 support level.
Emerson Electric (EMR) Purchase Details
- Sector: Industrials
- Industry: Industrial Electrical Equipment
- Purchase date: 7/7/2015
- Portfolio: Dividend Empire Portfolio
- Shares purchased: 13
- Cost per share: $54.67
- Commissions: $4.95
- Cost basis: $715.66
- Yield on cost: 3.42%
- Forward income: $24.44
The $22.44 in forward dividend income brings my portfolio total up to $714.66. My portfolio yield on cost remains unchanged at 3.53%.
I plan on making many more purchases this month, most likely starting with Walmart (WMT) if gets close to $70 again. Each one of these small purchases brings me closer to my $500 dividend income goal for 2015 – it’s gonna be a close one!
My Dividend Empire portfolio has been updated to reflect the addition of 13 shares of EMR.
What are your thoughts on EMR? What have you bought recently? Please let me know in the comments section below!
Great purchase, DE. EMR looks very attractive and has caught attention of a lot of DGIs – for good reason.
Congrats on this purchase and adding $24 to your div income.
R2R
Thanks R2R. Glad to be buying again in this portfolio! EMR is a great company that I had to pick up at these levels. I left some room to add to this position as well – just in case EMR drops some more.
Take care,
Ken
Excellent buy with EMR. Overall good fundamentals with div streak of 58 years. It is a bonus if you can buy it below fair value.
D4s
Thanks D4s. Gotta love that streak! Hopefully it will continue for another 58 years.
Ken
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