Belpointe Asset Management LLC Sells 46 Shares of Eaton Co. plc (NYSE:ETN)

Belpointe Asset Management LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,835 shares of the industrial products company’s stock after selling 46 shares during the period. Belpointe Asset Management LLC’s holdings in Eaton were worth $870,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN raised its stake in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton in the 3rd quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Eaton during the fourth quarter valued at about $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Down 0.3 %

ETN opened at $277.03 on Wednesday. The company has a market cap of $108.53 billion, a P/E ratio of 29.16, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The business’s 50-day moving average price is $287.83 and its 200-day moving average price is $326.48. 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 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 period in the prior year, the company earned $2.55 earnings per share. On average, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Eaton from a “hold” rating to a “buy” rating in a research report on Monday. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada dropped their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Barclays reduced their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $350.22.

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.