Emerson Electric Co. (NYSE:EMR) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Emerson Electric Co. by 5.2%, now owning 267,951 shares after selling 14,830 shares.
• Multiple research analysts have upgraded their ratings on Emerson Electric, with Wall Street Zen raising it to a buy rating and others adjusting price objectives between $124.00 and $150.00.
• Emerson Electric reported earnings of $1.48 per share for the last quarter, exceeding estimates, along with a total revenue of $4.43 billion.

TD Asset Management Inc reduced its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,951 shares of the industrial products company's stock after selling 14,830 shares during the quarter. TD Asset Management Inc's holdings in Emerson Electric were worth $29,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EMR. GLOBALT Investments LLC GA boosted its stake in shares of Emerson Electric by 2.2% during the 1st quarter. GLOBALT Investments LLC GA now owns 70,495 shares of the industrial products company's stock worth $7,729,000 after purchasing an additional 1,499 shares during the last quarter. Phoenix Financial Ltd. boosted its stake in shares of Emerson Electric by 192.1% during the 1st quarter. Phoenix Financial Ltd. now owns 13,009 shares of the industrial products company's stock worth $1,432,000 after purchasing an additional 8,556 shares during the last quarter. Wilkins Investment Counsel Inc. boosted its stake in shares of Emerson Electric by 0.8% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 136,688 shares of the industrial products company's stock worth $14,986,000 after purchasing an additional 1,026 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Emerson Electric by 4,583.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock worth $239,569,000 after purchasing an additional 2,138,397 shares during the last quarter. Finally, Neo Ivy Capital Management boosted its stake in shares of Emerson Electric by 101.0% during the 1st quarter. Neo Ivy Capital Management now owns 25,242 shares of the industrial products company's stock worth $2,768,000 after purchasing an additional 12,684 shares during the last quarter. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total transaction of $1,892,384.34. Following the sale, the chief executive officer owned 164,957 shares in the company, valued at $18,694,576.81. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

Emerson Electric Stock Down 1.2%

Shares of EMR traded down $1.86 during mid-day trading on Tuesday, reaching $147.62. 3,428,132 shares of the stock traded hands, compared to its average volume of 2,540,155. The firm has a market cap of $83.04 billion, a price-to-earnings ratio of 35.32, a P/E/G ratio of 2.90 and a beta of 1.29. The stock has a fifty day simple moving average of $132.01 and a 200 day simple moving average of $120.79. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.42.

Emerson Electric (NYSE:EMR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.07. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. Sell-side analysts expect that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.43%. Emerson Electric's dividend payout ratio is currently 50.48%.

Analyst Upgrades and Downgrades

EMR has been the topic of several analyst reports. Royal Bank Of Canada raised their price target on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Emerson Electric from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Bank of America raised their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. KeyCorp raised their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Citigroup raised their target price on shares of Emerson Electric from $146.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Emerson Electric has a consensus rating of "Moderate Buy" and a consensus price target of $142.28.

Emerson Electric Profile

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.