Aull & Monroe Investment Management Corp Cuts Stake in Eaton Co. plc (NYSE:ETN)

Aull & Monroe Investment Management Corp decreased its position in Eaton Co. plc (NYSE:ETN) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,254 shares of the industrial products company’s stock after selling 200 shares during the period. Eaton comprises approximately 1.4% of Aull & Monroe Investment Management Corp’s portfolio, making the stock its 24th biggest holding. Aull & Monroe Investment Management Corp’s holdings in Eaton were worth $2,739,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Opulen Financial Group LLC bought a new position in shares of Eaton in the 4th quarter worth approximately $215,000. Ethos Financial Group LLC increased its holdings in Eaton by 72.8% in the 4th quarter. Ethos Financial Group LLC now owns 1,493 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 629 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Eaton by 2.9% in the fourth quarter. Lindbrook Capital LLC now owns 4,611 shares of the industrial products company’s stock valued at $1,530,000 after purchasing an additional 129 shares in the last quarter. Washington Trust Advisors Inc. raised its position in shares of Eaton by 6.3% during the 4th quarter. Washington Trust Advisors Inc. now owns 5,048 shares of the industrial products company’s stock valued at $1,675,000 after buying an additional 298 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Eaton by 9.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 145,320 shares of the industrial products company’s stock valued at $48,227,000 after purchasing an additional 12,038 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research analyst reports. UBS Group started coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Barclays decreased their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group raised their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.15.

Eaton Trading Up 3.1 %

Shares of ETN stock opened at $287.85 on Thursday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market cap of $112.84 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The business’s 50 day moving average is $323.38 and its two-hundred day moving average is $332.18.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS. Equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently announced 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 is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

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.