Eaton Co. plc (NYSE:ETN) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,234 shares of the industrial products company’s stock after selling 371 shares during the period. Metis Global Partners LLC’s holdings in Eaton were worth $5,056,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its stake in shares of Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. acquired a new position in shares of Eaton in the 4th quarter valued at $297,000. Webster Bank N. A. lifted its stake in Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after acquiring an additional 6,166 shares in the last quarter. Ballentine Partners LLC lifted its stake in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after acquiring an additional 790 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after acquiring an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Eaton Stock Up 1.0 %

Shares of NYSE ETN opened at $293.21 on Friday. The stock has a market cap of $115.88 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. 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 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 $326.90 and a 200 day moving average price of $332.29.

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, beating analysts’ consensus estimates 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 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.42%. Eaton’s dividend payout ratio is 39.58%.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research reports. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company reissued an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. Barclays increased their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $366.05.

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.