IHT Wealth Management LLC Trims Position in Eaton Co. plc (NYSE:ETN)

IHT Wealth Management LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,714 shares of the industrial products company’s stock after selling 952 shares during the period. IHT Wealth Management LLC’s holdings in Eaton were worth $3,556,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC purchased a new position in Eaton during the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted 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 worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in Eaton in the third quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Eaton during the fourth quarter valued at about $33,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ETN. Wells Fargo & Company cut their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Tuesday. KeyCorp decreased their target price on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $350.22.

Eaton Trading Down 3.2 %

NYSE:ETN opened at $259.69 on Tuesday. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The stock has a market cap of $101.74 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a 50-day moving average price of $283.94 and a 200-day moving average price of $324.69. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last announced its 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company posted $2.55 earnings per share. Equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is 43.79%.

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.