Eaton Co. plc (NYSE:ETN) Shares Sold by Centurion Wealth Management LLC

Centurion Wealth Management LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,371 shares of the industrial products company’s stock after selling 91 shares during the period. Centurion Wealth Management LLC’s holdings in Eaton were worth $455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. United Bank acquired a new position in Eaton in the third quarter valued at $258,000. GSA Capital Partners LLP acquired a new position in Eaton in the third quarter valued at $295,000. KBC Group NV boosted its stake in Eaton by 89.8% in the third quarter. KBC Group NV now owns 57,044 shares of the industrial products company’s stock valued at $18,906,000 after acquiring an additional 26,995 shares in the last quarter. Curi RMB Capital LLC boosted its stake in Eaton by 36.7% in the third quarter. Curi RMB Capital LLC now owns 4,380 shares of the industrial products company’s stock valued at $1,452,000 after acquiring an additional 1,176 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in Eaton by 4.4% in the third quarter. OneDigital Investment Advisors LLC now owns 7,309 shares of the industrial products company’s stock valued at $2,422,000 after acquiring an additional 305 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 3.8 %

Shares of NYSE ETN opened at $294.53 on Friday. The firm has a fifty day moving average of $316.31 and a 200-day moving average of $331.54. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The stock has a market capitalization of $115.45 billion, a PE ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its quarterly earnings results 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 quarter in the previous year, the business posted $2.55 earnings per share. On average, analysts anticipate 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 will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. This is a boost 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 is 43.79%.

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. Evercore ISI decreased their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price for the company in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Citigroup decreased their target price 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. Finally, Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Eaton has a consensus 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.