Eaton Co. plc (NYSE:ETN) Holdings Lowered by Delta Asset Management LLC TN

Delta Asset Management LLC TN lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,126 shares of the industrial products company’s stock after selling 3,242 shares during the quarter. Eaton comprises approximately 4.3% of Delta Asset Management LLC TN’s portfolio, making the stock its 5th biggest holding. Delta Asset Management LLC TN’s holdings in Eaton were worth $47,831,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new position in Eaton in the fourth quarter valued at $30,000. Groupama Asset Managment raised its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 4.8 %

NYSE:ETN opened at $285.60 on Thursday. The company has a 50-day moving average price of $308.63 and a 200-day moving average price of $331.57. The stock has a market cap of $111.89 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 2.64 and a beta of 1.09. 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 Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 quarter in the previous year, the business posted $2.55 EPS. Equities analysts predict 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. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.46%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ETN shares. StockNews.com downgraded Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Citigroup reduced their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research note on Wednesday, March 12th. Finally, Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $357.16.

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.