Eaton Co. plc (NYSE:ETN) Shares Sold by CBIZ Investment Advisory Services LLC

CBIZ Investment Advisory Services LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 22.6% in the fourth quarter, Holdings Channel reports. The firm owned 719 shares of the industrial products company’s stock after selling 210 shares during the period. CBIZ Investment Advisory Services LLC’s holdings in Eaton were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Noble Wealth Management PBC purchased a new stake in shares of Eaton in the fourth quarter worth about $30,000. Horizon Bancorp Inc. IN raised its holdings 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 buying an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter worth approximately $33,000. Activest Wealth Management grew its position in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares in the last quarter. Finally, Knuff & Co LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Up 3.8 %

Shares of NYSE:ETN opened at $294.53 on Friday. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company’s fifty day moving average is $316.31 and its two-hundred day moving average is $331.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $115.45 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 business earned $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given 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 yield of 1.41%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Barclays lowered their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $357.68.

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.