Toronto Dominion Bank trimmed its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 17.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 253,835 shares of the industrial products company's stock after selling 53,312 shares during the period. Toronto Dominion Bank's holdings in Emerson Electric were worth $27,762,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of EMR. Capital Performance Advisors LLP acquired a new position in Emerson Electric in the 3rd quarter valued at approximately $25,000. Darwin Wealth Management LLC purchased a new stake in shares of Emerson Electric during the 3rd quarter worth about $29,000. Meeder Asset Management Inc. lifted its holdings in shares of Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company's stock valued at $33,000 after buying an additional 235 shares during the last quarter. Morton Brown Family Wealth LLC bought a new stake in shares of Emerson Electric in the 3rd quarter valued at approximately $33,000. Finally, Frazier Financial Advisors LLC bought a new position in Emerson Electric during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 74.30% of the company's stock.
Emerson Electric Stock Performance
Shares of NYSE:EMR traded up $0.29 during trading on Thursday, hitting $131.16. 2,299,042 shares of the stock were exchanged, compared to its average volume of 2,743,489. The company has a market capitalization of $74.70 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 2.20 and a beta of 1.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 1.77. Emerson Electric Co. has a 1-year low of $90.66 and a 1-year high of $134.85. The company's fifty day simple moving average is $120.74 and its 200-day simple moving average is $112.43.
Emerson Electric Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, November 15th. This is a positive change from Emerson Electric's previous quarterly dividend of $0.53. Emerson Electric's payout ratio is 61.70%.
Insider Transactions at Emerson Electric
In related news, SVP Michael H. Train sold 21,525 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total transaction of $2,711,289.00. Following the completion of the transaction, the senior vice president now owns 262,408 shares in the company, valued at $33,052,911.68. This trade represents a 7.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by insiders.
Wall Street Analyst Weigh In
EMR has been the subject of several recent research reports. Royal Bank of Canada decreased their target price on shares of Emerson Electric from $139.00 to $138.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Stephens downgraded shares of Emerson Electric from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $135.00 to $120.00 in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Emerson Electric from $128.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Barclays increased their price objective on Emerson Electric from $116.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, Morgan Stanley assumed coverage on Emerson Electric in a research report on Friday, September 6th. They set an "underweight" rating and a $105.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Emerson Electric presently has an average rating of "Moderate Buy" and an average price target of $134.58.
Read Our Latest Stock Report on EMR
Emerson Electric Company Profile
(
Free Report)
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.
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