Fullcircle Wealth LLC Decreases Position in Eaton Co. plc (NYSE:ETN)

Fullcircle Wealth LLC lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 3,355 shares of the industrial products company’s stock after selling 42 shares during the period. Fullcircle Wealth LLC’s holdings in Eaton were worth $1,033,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Flagship Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN grew its stake in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the fourth quarter worth approximately $33,000. Finally, Activest Wealth Management lifted its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Eaton Stock Up 1.4 %

Shares of NYSE ETN opened at $302.31 on Thursday. The firm’s 50-day moving average is $281.59 and its two-hundred day moving average is $320.81. The company has a market capitalization of $118.44 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 12-month low of $231.85 and a 12-month 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.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. Eaton’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.38%. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. KeyCorp upped their price objective on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group dropped their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Citigroup raised their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada increased their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a report on Monday. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $361.13.

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.