Level Four Advisory Services LLC Sells 628 Shares of Eaton Co. plc (NYSE:ETN)

Level Four Advisory Services LLC reduced its holdings in Eaton Co. plc (NYSE:ETN) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,066 shares of the industrial products company’s stock after selling 628 shares during the quarter. Level Four Advisory Services LLC’s holdings in Eaton were worth $7,323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton in the fourth quarter worth approximately $30,000. Horizon Bancorp Inc. IN increased 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 buying an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton during the 3rd quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

NYSE:ETN opened at $281.04 on Friday. The firm has a market capitalization of $110.10 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 2.64 and a beta of 1.09. 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 business has a 50 day simple moving average of $307.35 and a 200-day simple moving average of $331.22. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 period in the prior year, the company earned $2.55 EPS. Equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Analyst Ratings Changes

ETN has been the subject of several research analyst reports. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research note on Wednesday, March 12th. Finally, Barclays lowered their target price on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.16.

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.