Covea Finance Purchases New Position in Emerson Electric Co. (NYSE:EMR)

Covea Finance bought a new stake in Emerson Electric Co. (NYSE:EMR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 228,000 shares of the industrial products company’s stock, valued at approximately $28,256,000. Emerson Electric comprises 1.3% of Covea Finance’s investment portfolio, making the stock its 25th largest position.

A number of other large investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its position in Emerson Electric by 64.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 22,861 shares of the industrial products company’s stock valued at $2,833,000 after acquiring an additional 8,925 shares during the period. Kathmere Capital Management LLC acquired a new stake in shares of Emerson Electric during the fourth quarter worth $498,000. Fifth Third Wealth Advisors LLC increased its stake in Emerson Electric by 2.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 11,711 shares of the industrial products company’s stock valued at $1,451,000 after buying an additional 299 shares during the period. Pines Wealth Management LLC purchased a new position in Emerson Electric during the 4th quarter worth $204,000. Finally, SeaCrest Wealth Management LLC lifted its stake in shares of Emerson Electric by 6.2% in the 4th quarter. SeaCrest Wealth Management LLC now owns 11,086 shares of the industrial products company’s stock worth $1,374,000 after acquiring an additional 651 shares during the period. 74.30% of the stock is owned by institutional investors and hedge funds.

Emerson Electric Stock Up 1.1 %

EMR opened at $119.80 on Wednesday. The firm has a market cap of $68.23 billion, a P/E ratio of 35.03, a PEG ratio of 2.19 and a beta of 1.35. The business’s fifty day simple moving average is $127.30 and its 200 day simple moving average is $115.01. Emerson Electric Co. has a 52 week low of $91.64 and a 52 week high of $134.85. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 0.26.

Emerson Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 dividend on an annualized basis and a dividend yield of 1.76%. Emerson Electric’s payout ratio is 61.70%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EMR. Oppenheimer lifted their price objective on Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. KeyCorp lifted their price target on Emerson Electric from $140.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Emerson Electric from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. UBS Group initiated coverage on shares of Emerson Electric in a research note on Wednesday, November 13th. They set a “neutral” rating and a $135.00 price target on the stock. Finally, BNP Paribas initiated coverage on shares of Emerson Electric in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $155.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.84.

Insider Activity

In other Emerson Electric news, SVP Michael H. Train sold 21,525 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total value of $2,711,289.00. Following the completion of the transaction, the senior vice president now directly owns 262,408 shares in the company, valued at approximately $33,052,911.68. The trade was a 7.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

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.