Eaton Co. plc (NYSE:ETN) Shares Sold by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC lessened its position in Eaton Co. plc (NYSE:ETN) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,155 shares of the industrial products company’s stock after selling 4,660 shares during the period. Eaton comprises 8.3% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Eaton were worth $12,994,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ETN. B. Riley Wealth Advisors Inc. increased its position 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 worth $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. acquired a new position in Eaton during the fourth quarter worth approximately $297,000. Webster Bank N. A. increased its position 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 worth $5,949,000 after purchasing an additional 6,166 shares during the last quarter. Ballentine Partners LLC increased its position in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after purchasing an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup decreased their price objective 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 downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Barclays boosted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Bank of America boosted their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group boosted their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

Eaton Stock Up 1.0 %

Shares of NYSE:ETN opened at $293.21 on Friday. The stock has a market capitalization of $115.88 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth 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’s fifty day moving average is $326.90 and its two-hundred day moving average is $332.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

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 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 previous year, the firm posted $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is 43.79%.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

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.