Eaton Co. plc (NYSE:ETN) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,021 shares of the industrial products company’s stock after selling 360 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Eaton were worth $1,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ETN. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the 4th quarter worth $30,000. Groupama Asset Managment increased its holdings in Eaton by 83.2% in the 3rd 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 increased its holdings 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 purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at $33,000. Finally, Activest Wealth Management increased its holdings in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ETN shares. Barclays lowered their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Royal Bank of Canada reissued an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Finally, UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $363.15.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

Eaton Stock Performance

Shares of ETN stock opened at $287.85 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company’s 50-day simple moving average is $323.38 and its 200-day simple moving average is $332.18. The stock 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.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the business earned $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.45%. Eaton’s dividend payout ratio is 43.79%.

Eaton 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.