Toronto Dominion Bank Cuts Stake in Emerson Electric Co. (NYSE:EMR)

Toronto Dominion Bank lessened its holdings in shares of Emerson Electric Co. (NYSE:EMR) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 307,147 shares of the industrial products company’s stock after selling 41,677 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Emerson Electric worth $33,835,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Security National Bank purchased a new stake in shares of Emerson Electric during the fourth quarter worth about $29,000. Cape Investment Advisory Inc. boosted its stake in Emerson Electric by 148.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 315 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 188 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in Emerson Electric during the 1st quarter worth approximately $31,000. Burkett Financial Services LLC acquired a new position in Emerson Electric during the 4th quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Emerson Electric by 361.5% during the second quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock worth $33,000 after buying an additional 235 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Trading Down 1.8 %

Shares of EMR stock opened at $104.40 on Thursday. Emerson Electric Co. has a fifty-two week low of $83.10 and a fifty-two week high of $119.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.16. The stock’s fifty day moving average is $106.55 and its two-hundred day moving average is $109.38. The firm has a market capitalization of $59.73 billion, a P/E ratio of 5.59, a PEG ratio of 1.74 and a beta of 1.30.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Emerson Electric had a net margin of 10.12% and a return on equity of 11.41%. Emerson Electric’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 EPS. Research analysts expect that Emerson Electric Co. will post 5.48 earnings per share for the current fiscal year.

Emerson Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, August 16th. Emerson Electric’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analysts Forecast Growth

EMR has been the topic of several research reports. Barclays cut their target price on Emerson Electric from $110.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird raised their price objective on Emerson Electric from $116.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Redburn Atlantic initiated coverage on Emerson Electric in a research report on Monday, July 8th. They issued a “buy” rating and a $135.00 target price on the stock. Morgan Stanley began coverage on shares of Emerson Electric in a research report on Friday, September 6th. They set an “underweight” rating and a $105.00 price target for the company. Finally, StockNews.com lowered shares of Emerson Electric from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.29.

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.