Schrum Private Wealth Management LLC Sells 482 Shares of Eaton Co. plc (NYSE:ETN)

Schrum Private Wealth Management LLC cut its holdings in Eaton Co. plc (NYSE:ETN) by 40.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 718 shares of the industrial products company’s stock after selling 482 shares during the period. Schrum Private Wealth Management LLC’s holdings in Eaton were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Impax Asset Management Group plc bought a new position in shares of Eaton in the 3rd quarter valued at about $2,347,000. FSM Wealth Advisors LLC purchased a new position in shares of Eaton in the 3rd quarter worth approximately $216,000. Crestwood Advisors Group LLC lifted its position in Eaton by 3.2% in the third quarter. Crestwood Advisors Group LLC now owns 13,909 shares of the industrial products company’s stock worth $4,610,000 after buying an additional 435 shares during the last quarter. North Star Investment Management Corp. increased its position in Eaton by 0.5% during the third quarter. North Star Investment Management Corp. now owns 7,978 shares of the industrial products company’s stock valued at $2,644,000 after acquiring an additional 41 shares during the last quarter. Finally, Crescent Grove Advisors LLC raised its stake in shares of Eaton by 9.2% in the third quarter. Crescent Grove Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $478,000 after acquiring an additional 121 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

Eaton Trading Up 3.1 %

Shares of ETN stock opened at $287.85 on Thursday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a market capitalization of $112.84 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.09. The firm has a 50-day moving average price of $323.38 and a 200 day moving average price of $332.18. 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 quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $2.55 earnings per share. Research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.45%. Eaton’s dividend payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ETN. Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group lifted their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $363.15.

Eaton Company 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.