Eaton Co. plc (NYSE:ETN) Shares Sold by Signaturefd LLC

Signaturefd LLC cut its holdings in Eaton Co. plc (NYSE:ETN) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,249 shares of the industrial products company’s stock after selling 70 shares during the quarter. Signaturefd LLC’s holdings in Eaton were worth $4,065,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ETN. United Bank acquired a new position in Eaton during the 3rd quarter valued at approximately $258,000. GSA Capital Partners LLP acquired a new position in shares of Eaton in the 3rd quarter valued at $295,000. OneDigital Investment Advisors LLC raised its stake in Eaton by 4.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,309 shares of the industrial products company’s stock worth $2,422,000 after acquiring an additional 305 shares during the last quarter. Impax Asset Management Group plc acquired a new stake in Eaton during the 3rd quarter worth about $2,347,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Eaton in the third quarter valued at about $229,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 3.8 %

NYSE ETN opened at $294.53 on Monday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business has a fifty day moving average price of $316.31 and a 200 day moving average price of $331.81. The company has a market cap of $115.45 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted 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 last year, the firm earned $2.55 EPS. Research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed 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 is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Evercore ISI cut their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Citigroup cut their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price 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.