Advisors Asset Management Inc. Sells 5,639 Shares of Eaton Co. plc (NYSE:ETN)

Advisors Asset Management Inc. decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,752 shares of the industrial products company’s stock after selling 5,639 shares during the period. Advisors Asset Management Inc.’s holdings in Eaton were worth $12,861,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in Eaton by 3.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 82,607 shares of the industrial products company’s stock valued at $28,235,000 after purchasing an additional 2,420 shares during the period. Kennondale Capital Management LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $2,216,000. William Blair Investment Management LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $4,265,000. Flagship Wealth Advisors LLC bought a new position in Eaton in the 4th quarter valued at approximately $27,000. Finally, Terra Alpha Investments LLC bought a new position in Eaton in the 4th quarter valued at approximately $5,146,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 1.3 %

NYSE:ETN opened at $297.31 on Tuesday. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a 50-day moving average of $315.29 and a 200 day moving average of $331.78. The firm has a market cap of $116.54 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the business earned $2.55 earnings per share. As a group, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.40%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Analysts Set New Price Targets

ETN has been the subject of a number of research reports. Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays dropped their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Finally, Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.