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Covea Finance Boosts Stock Holdings in Emerson Electric Co. (NYSE:EMR)

Emerson Electric logo with Industrials background

Covea Finance raised its holdings in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 31.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 298,760 shares of the industrial products company's stock after purchasing an additional 70,760 shares during the period. Emerson Electric accounts for about 1.5% of Covea Finance's portfolio, making the stock its 21st largest position. Covea Finance owned 0.05% of Emerson Electric worth $32,756,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Unison Advisors LLC increased its position in Emerson Electric by 0.5% during the 4th quarter. Unison Advisors LLC now owns 21,213 shares of the industrial products company's stock valued at $2,629,000 after purchasing an additional 98 shares during the period. Redmond Asset Management LLC grew its position in shares of Emerson Electric by 4.6% in the 4th quarter. Redmond Asset Management LLC now owns 2,260 shares of the industrial products company's stock worth $280,000 after buying an additional 100 shares during the last quarter. Texas Yale Capital Corp. grew its position in shares of Emerson Electric by 0.7% in the 4th quarter. Texas Yale Capital Corp. now owns 14,789 shares of the industrial products company's stock worth $1,833,000 after buying an additional 100 shares during the last quarter. Ecofi Investissements SA grew its position in shares of Emerson Electric by 0.3% in the 4th quarter. Ecofi Investissements SA now owns 35,800 shares of the industrial products company's stock worth $4,111,000 after buying an additional 100 shares during the last quarter. Finally, Apriem Advisors grew its position in shares of Emerson Electric by 2.1% in the 4th quarter. Apriem Advisors now owns 5,051 shares of the industrial products company's stock worth $626,000 after buying an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EMR. Royal Bank Of Canada lifted their price objective on shares of Emerson Electric from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Barclays lifted their price objective on shares of Emerson Electric from $112.00 to $118.00 and gave the stock an "underweight" rating in a research report on Monday, June 9th. Wells Fargo & Company lifted their price objective on shares of Emerson Electric from $121.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Citigroup lifted their target price on shares of Emerson Electric from $133.00 to $146.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Emerson Electric has an average rating of "Moderate Buy" and a consensus price target of $136.47.

Get Our Latest Stock Report on EMR

Emerson Electric Trading Down 0.3%

Shares of Emerson Electric stock opened at $128.30 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a fifty day moving average price of $115.14 and a 200 day moving average price of $118.26. Emerson Electric Co. has a 1 year low of $90.06 and a 1 year high of $134.85. The stock has a market cap of $72.17 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 2.54 and a beta of 1.28.

Emerson Electric (NYSE:EMR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.07. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The firm had revenue of $4.43 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter last year, the company posted $1.36 earnings per share. The firm's revenue was up 1.3% compared to the same quarter last year. Equities research analysts predict that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.5275 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.11 dividend on an annualized basis and a yield of 1.64%. Emerson Electric's payout ratio is 50.48%.

Insider Buying and Selling at Emerson Electric

In other Emerson Electric news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of Emerson Electric stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the completion of the transaction, the chief executive officer now owns 164,957 shares of the company's stock, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Emerson Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Emerson Electric (NYSE:EMR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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