Covea Finance Buys Shares of 228,000 Emerson Electric Co. (NYSE:EMR)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of EMR. Capital Performance Advisors LLP purchased a new stake in Emerson Electric in the third quarter worth about $25,000. Darwin Wealth Management LLC purchased a new stake in shares of Emerson Electric in the third quarter worth $29,000. Morton Brown Family Wealth LLC bought a new stake in shares of Emerson Electric during the 3rd quarter valued at $33,000. Frazier Financial Advisors LLC purchased a new stake in Emerson Electric in the 3rd quarter worth $33,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Emerson Electric in the third quarter valued at about $43,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BNP Paribas initiated coverage on Emerson Electric in a report on Wednesday, November 13th. They issued an "outperform" rating and a $155.00 price target on the stock. KeyCorp raised their target price on shares of Emerson Electric from $140.00 to $158.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Wells Fargo & Company dropped their price objective on shares of Emerson Electric from $145.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on Emerson Electric from $137.00 to $135.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Oppenheimer boosted their target price on Emerson Electric from $120.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $135.89.

Insider Buying and Selling

In related news, SVP Michael H. Train sold 21,525 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $125.96, for a total value of $2,711,289.00. Following the transaction, the senior vice president now owns 262,408 shares of the company's stock, 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 SEC, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Emerson Electric Trading Up 0.8 %

Shares of EMR stock traded up $0.96 during trading hours on Wednesday, reaching $120.75. 2,405,515 shares of the stock were exchanged, compared to its average volume of 2,380,528. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.26. Emerson Electric Co. has a 12-month low of $91.64 and a 12-month high of $134.85. The firm has a market capitalization of $68.77 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 2.19 and a beta of 1.35. The company's 50-day moving average price is $127.30 and its 200-day moving average price is $115.01.

Emerson Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.75%. This is an increase from Emerson Electric's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 15th. Emerson Electric's dividend payout ratio is presently 61.70%.

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.