Eaton Co. plc (NYSE:ETN) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 38.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189 shares of the industrial products company’s stock after selling 120 shares during the period. Clearstead Trust LLC’s holdings in Eaton were worth $63,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Noble Wealth Management PBC acquired a new position in shares of Eaton during the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN grew 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 worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter worth approximately $33,000. Activest Wealth Management grew its stake in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the period. Finally, Knuff & Co LLC purchased a new stake in Eaton in the 4th quarter worth approximately $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of ETN stock opened at $294.53 on Friday. Eaton Co. plc has a 12 month low of $255.65 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. The firm has a market capitalization of $115.45 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09. The company’s fifty day moving average price is $316.31 and its two-hundred day moving average price is $331.29.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal 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 issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Citigroup lowered their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group lowered their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research note on Wednesday. Finally, Royal Bank of Canada lowered their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. 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, Eaton has an average rating of “Moderate Buy” and a consensus price target of $356.20.

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.