Financial Counselors Inc. Sells 338 Shares of Eaton Co. plc (NYSE:ETN)

Financial Counselors Inc. trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,325 shares of the industrial products company’s stock after selling 338 shares during the quarter. Eaton makes up 0.9% of Financial Counselors Inc.’s investment portfolio, making the stock its 29th largest position. Financial Counselors Inc.’s holdings in Eaton were worth $60,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Flagship Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton during the fourth quarter valued at about $30,000. Groupama Asset Managment boosted its holdings in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter valued at about $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ETN. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research report 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 research report on Monday, January 13th. Barclays reduced their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton Trading Down 0.9 %

Shares of NYSE ETN opened at $300.11 on Wednesday. The firm’s 50 day moving average price is $309.76 and its 200-day moving average price is $331.90. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $117.57 billion, a PE ratio of 31.59, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm posted $2.55 EPS. On average, equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.39%. Eaton’s payout ratio is 43.79%.

Eaton 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.