Covea Finance Sells 29,900 Shares of Emerson Electric Co. $EMR

Covea Finance trimmed its position in Emerson Electric Co. (NYSE:EMR) by 8.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 312,669 shares of the industrial products company’s stock after selling 29,900 shares during the period. Emerson Electric accounts for approximately 1.4% of Covea Finance’s investment portfolio, making the stock its 18th biggest position. Covea Finance owned 0.06% of Emerson Electric worth $41,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EMR. Norges Bank bought a new position in Emerson Electric in the second quarter valued at about $918,830,000. JPMorgan Chase & Co. increased its stake in shares of Emerson Electric by 75.0% in the second quarter. JPMorgan Chase & Co. now owns 12,538,402 shares of the industrial products company’s stock valued at $1,671,762,000 after buying an additional 5,371,585 shares during the period. Schroder Investment Management Group raised its holdings in Emerson Electric by 51.6% in the 2nd quarter. Schroder Investment Management Group now owns 6,346,398 shares of the industrial products company’s stock valued at $846,165,000 after buying an additional 2,159,126 shares during the last quarter. Alliancebernstein L.P. boosted its position in Emerson Electric by 218.7% during the 1st quarter. Alliancebernstein L.P. now owns 2,468,732 shares of the industrial products company’s stock worth $270,672,000 after buying an additional 1,693,999 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Emerson Electric by 43.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,193,448 shares of the industrial products company’s stock worth $692,442,000 after acquiring an additional 1,561,600 shares during the last quarter. Institutional investors own 74.30% of the company’s stock.

Insiders Place Their Bets

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 7,263 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $133.00, for a total value of $965,979.00. Following the transaction, the chief executive officer owned 196,292 shares in the company, valued at approximately $26,106,836. This represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Emerson Electric Stock Performance

Shares of EMR stock opened at $136.33 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 0.41. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $150.27. The firm has a 50 day moving average of $132.96 and a 200-day moving average of $133.85. The company has a market cap of $76.66 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26.

Emerson Electric (NYSE:EMR) last issued its earnings results on Thursday, April 6th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter. Emerson Electric had a net margin of 12.73% and a return on equity of 15.87%. The business had revenue of $3.16 billion for the quarter. On average, equities analysts forecast that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric announced that its board has initiated a stock repurchase plan on Wednesday, November 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Emerson Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were given a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, November 14th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio is presently 54.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EMR. JPMorgan Chase & Co. cut their price target on shares of Emerson Electric from $151.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Daiwa Capital Markets raised their target price on Emerson Electric from $150.00 to $153.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Wolfe Research upped their price target on Emerson Electric from $165.00 to $168.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Jefferies Financial Group restated a “hold” rating and set a $145.00 price objective on shares of Emerson Electric in a research report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Emerson Electric in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Emerson Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.06.

Emerson Electric Company 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.