Eaton Co. plc (NYSE:ETN) Holdings Trimmed by Standard Family Office LLC

Standard Family Office LLC lowered its holdings in Eaton Co. plc (NYSE:ETN) by 57.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120 shares of the industrial products company’s stock after selling 160 shares during the period. Standard Family Office LLC’s holdings in Eaton were worth $40,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new position in Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the 4th quarter valued at $30,000. Horizon Bancorp Inc. IN increased its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new stake in shares of Eaton during the third quarter worth $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Eaton during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ETN. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Citigroup cut their price target on shares of Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Barclays decreased their price objective on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $350.22.

Eaton Stock Performance

NYSE ETN opened at $268.15 on Monday. The company’s fifty day moving average is $284.95 and its two-hundred day moving average is $325.21. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market capitalization of $105.05 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the firm earned $2.55 EPS. Equities research analysts forecast 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 was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.55%. Eaton’s payout ratio is currently 43.79%.

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.