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

Signaturefd LLC decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,249 shares of the industrial products company’s stock after selling 70 shares during the quarter. Signaturefd LLC’s holdings in Eaton were worth $4,065,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. United Bank acquired a new position in Eaton in the third quarter valued at about $258,000. GSA Capital Partners LLP purchased a new position in shares of Eaton during the 3rd quarter worth approximately $295,000. OneDigital Investment Advisors LLC increased its holdings in Eaton by 4.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,309 shares of the industrial products company’s stock valued at $2,422,000 after purchasing an additional 305 shares during the last quarter. Impax Asset Management Group plc purchased a new stake in Eaton in the third quarter valued at approximately $2,347,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Eaton during the third quarter worth $229,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several research analyst reports. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Evercore ISI dropped their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $357.68.

Eaton Trading Up 3.8 %

ETN opened at $294.53 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The business’s 50 day moving average is $316.31 and its two-hundred day moving average is $331.81. The firm has a market cap of $115.45 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly 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 period in the prior year, the business posted $2.55 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 an increase 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%.

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.