Eaton Co. plc (NYSE:ETN) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its stake in Eaton Co. plc (NYSE:ETN) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,747 shares of the industrial products company’s stock after selling 45 shares during the period. Great Lakes Advisors LLC’s holdings in Eaton were worth $1,243,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. bought a new stake in Eaton during the fourth quarter valued at $297,000. Webster Bank N. A. increased its stake in Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after purchasing an additional 6,166 shares during the last quarter. Ballentine Partners LLC increased its stake in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 790 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after purchasing an additional 1,694 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $294.53 on Friday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. 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 company has a market capitalization of $115.45 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.64 and a beta of 1.09. The firm has a 50-day moving average of $316.31 and a two-hundred day moving average of $331.54.

Eaton (NYSE:ETN) last issued 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the business posted $2.55 earnings per share. As a group, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. Eaton’s dividend payout ratio is currently 43.79%.

Wall Street Analyst Weigh In

ETN has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Jefferies Financial Group lowered their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Seven investment 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 presently has an average rating of “Moderate Buy” and a consensus 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.