TD Asset Management Inc cut its position in shares of Emerson Electric Co. (NYSE:EMR – Free Report) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,845 shares of the industrial products company’s stock after selling 9,436 shares during the quarter. TD Asset Management Inc’s holdings in Emerson Electric were worth $33,955,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Mufg Securities Americas Inc. grew its holdings in shares of Emerson Electric by 21.7% during the 3rd quarter. Mufg Securities Americas Inc. now owns 15,177 shares of the industrial products company’s stock worth $1,991,000 after purchasing an additional 2,711 shares in the last quarter. Compound Planning Inc. boosted its stake in Emerson Electric by 6.2% during the third quarter. Compound Planning Inc. now owns 9,486 shares of the industrial products company’s stock worth $1,244,000 after buying an additional 557 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Emerson Electric by 2.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,212 shares of the industrial products company’s stock valued at $553,000 after buying an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Emerson Electric by 19.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,026 shares of the industrial products company’s stock worth $397,000 after acquiring an additional 495 shares during the period. Finally, Vestmark Advisory Solutions Inc. boosted its position in shares of Emerson Electric by 13.5% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 5,229 shares of the industrial products company’s stock valued at $686,000 after acquiring an additional 621 shares in the last quarter. Institutional investors and hedge funds own 74.30% of the company’s stock.
Emerson Electric Price Performance
EMR opened at $150.67 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.62. The company’s 50 day simple moving average is $146.53 and its 200-day simple moving average is $137.27. Emerson Electric Co. has a one year low of $90.06 and a one year high of $165.15. The stock has a market capitalization of $84.67 billion, a P/E ratio of 36.84, a price-to-earnings-growth ratio of 2.43 and a beta of 1.26.
Emerson Electric Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a dividend of $0.555 per share. The ex-dividend date is Friday, February 13th. This represents a $2.22 dividend on an annualized basis and a yield of 1.5%. Emerson Electric’s dividend payout ratio is presently 54.28%.
Emerson Electric declared that its board has initiated a stock buyback program on Wednesday, November 5th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of research analysts have commented on EMR shares. Robert W. Baird raised their price target on shares of Emerson Electric from $143.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Wells Fargo & Company boosted their price target on Emerson Electric from $145.00 to $160.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. Weiss Ratings lowered Emerson Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 4th. Barclays boosted their target price on shares of Emerson Electric from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Finally, Morgan Stanley lifted their price target on shares of Emerson Electric from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Friday, January 9th. Eleven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $164.85.
Read Our Latest Stock Analysis on EMR
Insider Transactions at Emerson Electric
In other news, Director Matthew S. Levatich sold 1,476 shares of Emerson Electric stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $162.16, for a total transaction of $239,348.16. Following the completion of the sale, the director owned 24,349 shares in the company, valued at $3,948,433.84. The trade was a 5.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $133.00, for a total transaction of $965,979.00. Following the completion of the transaction, the chief executive officer owned 196,292 shares in the company, valued at $26,106,836. This represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,442 shares of company stock worth $2,271,573 in the last quarter. 0.23% of the stock is owned by company insiders.
Emerson Electric Profile
Emerson Electric Co is a global technology and engineering company that designs and manufactures products and provides services for industrial, commercial and consumer markets. Founded in 1890, the company is headquartered in St. Louis, Missouri, and has built a long-standing presence in automation, control and climate-related technologies. Emerson’s offerings are aimed at improving productivity, energy efficiency and reliability for a wide range of end markets.
Emerson operates through two principal platforms—Automation Solutions and Commercial & Residential Solutions—providing process automation systems, measurement and analytical instrumentation, valves and actuators, control software, and related aftermarket services, alongside products for heating, ventilation and refrigeration, residential and commercial climate controls, tools and storage solutions.
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