Securian Asset Management Inc. Sells 777 Shares of Eaton Co. plc (NYSE:ETN)

Securian Asset Management Inc. cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.5% in the fourth quarter, HoldingsChannel reports. The fund owned 21,241 shares of the industrial products company’s stock after selling 777 shares during the period. Securian Asset Management Inc.’s holdings in Eaton were worth $7,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the 4th quarter worth approximately $30,000. Groupama Asset Managment raised its holdings in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Eaton during the 3rd quarter worth approximately $33,000. Finally, Activest Wealth Management raised its holdings in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Up 1.9 %

Shares of NYSE:ETN opened at $282.89 on Wednesday. The stock has a market cap of $110.89 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The business has a 50-day moving average price of $319.04 and a 200-day moving average price of $331.92. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

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

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.47%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is 43.79%.

Insider Buying and Selling

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ETN shares. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Melius Research reaffirmed a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Finally, UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.58.

About Eaton

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.