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

Centurion Wealth Management LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,371 shares of the industrial products company’s stock after selling 91 shares during the quarter. Centurion Wealth Management LLC’s holdings in Eaton were worth $455,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. 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 raised its stake in shares of 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 shares of Eaton in the 3rd quarter valued at about $33,000. Activest Wealth Management raised its stake in shares of 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. Finally, Knuff & Co LLC acquired a new stake in shares of Eaton in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 3.8 %

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 firm has a market cap of $115.45 billion, a PE ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09. The firm has a 50 day simple moving average of $316.31 and a 200 day simple moving average of $331.54. 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 released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 firm earned $2.55 earnings per share. Equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.41%. Eaton’s dividend payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. 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 report on Wednesday. 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 report on Thursday, March 6th. Finally, Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $357.68.

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.