Altrius Capital Management Inc Has $7.26 Million Stake in Eaton Co. plc (NYSE:ETN)

Altrius Capital Management Inc cut its stake in Eaton Co. plc (NYSE:ETN) by 20.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,875 shares of the industrial products company’s stock after selling 5,599 shares during the period. Eaton makes up about 2.0% of Altrius Capital Management Inc’s portfolio, making the stock its 15th biggest holding. Altrius Capital Management Inc’s holdings in Eaton were worth $7,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Groupama Asset Managment raised its position in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN boosted its holdings in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the 3rd quarter valued at $33,000. Activest Wealth Management raised its holdings in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Eaton in the fourth quarter valued at about $38,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Down 2.4 %

Shares of Eaton stock opened at $290.08 on Friday. The company has a 50 day simple moving average of $327.80 and a two-hundred day simple moving average of $332.26. The firm has a market cap of $114.64 billion, a PE ratio of 30.53, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business earned $2.55 EPS. Analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid 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 yield of 1.43%. Eaton’s payout ratio is currently 39.58%.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ETN shares. Melius downgraded 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. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group raised their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton Company 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.