Eaton Co. plc (NYSE:ETN) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,186 shares of the industrial products company’s stock after selling 450 shares during the period. TD Private Client Wealth LLC’s holdings in Eaton were worth $2,717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. United Bank acquired a new position in Eaton in the third quarter valued at approximately $258,000. GSA Capital Partners LLP acquired a new position in Eaton in the third quarter valued at approximately $295,000. Segall Bryant & Hamill LLC acquired a new position in Eaton in the third quarter valued at approximately $6,632,000. King Luther Capital Management Corp lifted its holdings in Eaton by 15.7% in the third quarter. King Luther Capital Management Corp now owns 3,848 shares of the industrial products company’s stock valued at $1,275,000 after acquiring an additional 521 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in Eaton by 2.3% in the third quarter. LPL Financial LLC now owns 488,214 shares of the industrial products company’s stock valued at $161,814,000 after acquiring an additional 10,939 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE:ETN opened at $295.88 on Friday. The firm has a market capitalization of $115.92 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The business’s fifty day moving average price is $311.30 and its 200 day moving average price is $331.08. 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 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the firm earned $2.55 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal 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 $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ETN shares. Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Eight 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, Eaton currently 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.