Covea Finance Raises Stake in Emerson Electric Co. $EMR

Key Points

• Covea Finance increased its stake in Emerson Electric Co. by 14.7% during the second quarter, owning a total of 342,569 shares valued at approximately $45.68 million.
• Major investors like Nuveen LLC and Pacer Advisors Inc. have also significantly increased their positions in Emerson Electric, with Pacer Advisors raising their holdings by 4,583.7%.
• Equities analysts have set new price targets for Emerson Electric, with several firms raising their targets to as high as $155, reflecting a general consensus of a "Moderate Buy" rating.

Covea Finance raised its position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) by 14.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 342,569 shares of the industrial products company's stock after purchasing an additional 43,809 shares during the quarter. Emerson Electric accounts for about 1.7% of Covea Finance's investment portfolio, making the stock its 16th largest position. Covea Finance owned approximately 0.06% of Emerson Electric worth $45,675,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EMR. Nuveen LLC purchased a new position in Emerson Electric during the first quarter valued at approximately $737,318,000. Pacer Advisors Inc. lifted its holdings in shares of Emerson Electric by 4,583.7% in the first quarter. Pacer Advisors Inc. now owns 2,185,049 shares of the industrial products company's stock worth $239,569,000 after buying an additional 2,138,397 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Emerson Electric by 218.7% in the first 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Emerson Electric by 210.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,966,453 shares of the industrial products company's stock worth $215,602,000 after buying an additional 1,333,839 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Emerson Electric by 12,707.7% in the first quarter. GAMMA Investing LLC now owns 1,126,441 shares of the industrial products company's stock worth $123,503,000 after buying an additional 1,117,646 shares in the last quarter. Hedge funds and other institutional investors own 74.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stephens boosted their target price on shares of Emerson Electric from $130.00 to $145.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. TD Cowen raised shares of Emerson Electric to a "strong-buy" rating in a research note on Tuesday, July 8th. KeyCorp upped their price target on shares of Emerson Electric from $150.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Bank of America upped their price target on shares of Emerson Electric from $130.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company increased their target price on shares of Emerson Electric from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $142.39.

Emerson Electric Stock Performance

EMR stock opened at $132.88 on Tuesday. The firm has a market cap of $74.78 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 2.51 and a beta of 1.30. The firm has a 50-day simple moving average of $136.49 and a two-hundred day simple moving average of $123.49. Emerson Electric Co. has a one year low of $90.06 and a one year high of $150.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85.

Emerson Electric (NYSE:EMR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.51 by $0.01. The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.60 billion. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The company's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. On average, equities analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Emerson Electric's dividend payout ratio (DPR) is presently 45.38%.

Emerson Electric Company 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.

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