Angeles Investment Advisors LLC Sells 68 Shares of Eaton Co. plc (NYSE:ETN)

Angeles Investment Advisors LLC lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,946 shares of the industrial products company’s stock after selling 68 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Eaton were worth $646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Congress Wealth Management LLC DE boosted its position in shares of Eaton by 2.2% during the 4th quarter. Congress Wealth Management LLC DE now owns 124,192 shares of the industrial products company’s stock worth $41,216,000 after purchasing an additional 2,623 shares in the last quarter. Dillon & Associates Inc. boosted its position in shares of Eaton by 10.8% during the 4th quarter. Dillon & Associates Inc. now owns 8,553 shares of the industrial products company’s stock worth $2,840,000 after purchasing an additional 835 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Eaton during the 4th quarter worth about $54,000. Vanguard Group Inc. boosted its position in shares of Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock worth $12,351,506,000 after purchasing an additional 99,291 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Eaton by 10.8% during the 4th quarter. LPL Financial LLC now owns 540,761 shares of the industrial products company’s stock worth $179,708,000 after purchasing an additional 52,547 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.1 %

Shares of ETN stock opened at $295.88 on Monday. The company has a 50 day moving average of $311.30 and a 200-day moving average of $331.67. 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 12-month low of $255.65 and a 12-month high of $379.99. The firm has a market cap of $115.92 billion, a P/E ratio of 31.14, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 last year, the company posted $2.55 earnings per share. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada dropped their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Finally, KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.