Eaton Co. plc (NYSE:ETN) Shares Sold by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 40.2% during the fourth quarter, Holdings Channel reports. The firm owned 718 shares of the industrial products company’s stock after selling 482 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Eaton were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ETN. B. Riley Wealth Advisors Inc. lifted its position in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after buying an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. acquired a new stake in shares of Eaton during the 4th quarter valued at about $297,000. Webster Bank N. A. increased its position in Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after buying an additional 6,166 shares during the last quarter. Ballentine Partners LLC raised its holdings in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after buying an additional 790 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after buying an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 3.1 %

ETN opened at $287.85 on Thursday. The firm 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. The company’s 50 day moving average price is $323.38 and its two-hundred day moving average price is $332.18. 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 Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 in the prior year, the company posted $2.55 EPS. As a group, research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Bank of America boosted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $363.15.

Insider Activity

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

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.