Eaton Co. plc (NYSE:ETN) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 38.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 189 shares of the industrial products company’s stock after selling 120 shares during the quarter. Clearstead Trust LLC’s holdings in Eaton were worth $63,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Wetzel Investment Advisors Inc. lifted its position in shares of Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares in the last quarter. Westmount Partners LLC lifted its position in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after buying an additional 30 shares in the last quarter. Signal Advisors Wealth LLC lifted its position in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after buying an additional 30 shares in the last quarter. Lantz Financial LLC lifted its position in Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after buying an additional 30 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock worth $544,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

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 firm’s fifty day simple moving average is $316.31 and its 200 day simple moving average is $331.29. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $115.45 billion, a PE ratio of 31.00, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted 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 period last year, the business posted $2.55 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group cut their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Evercore ISI dropped their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Barclays dropped their price target 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. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.20.

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.