Eaton Co. plc (NYSE:ETN) Shares Sold by Stokes Family Office LLC

Stokes Family Office LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,880 shares of the industrial products company’s stock after selling 208 shares during the period. Stokes Family Office LLC’s holdings in Eaton were worth $3,279,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the 4th quarter valued at $30,000. Groupama Asset Managment lifted its position 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 valued at $31,000 after acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its position 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 valued at $32,000 after acquiring an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 2.2 %

Eaton stock opened at $290.59 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market capitalization of $113.91 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company’s fifty day moving average price is $314.23 and its two-hundred day moving average price is $331.66.

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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the business earned $2.55 EPS. On average, analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.43%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research report on Wednesday, March 12th. Royal Bank of Canada cut their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Barclays cut their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $357.68.

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.