Wambolt & Associates LLC Sells 1,301 Shares of Eaton Co. plc (NYSE:ETN)

Wambolt & Associates LLC trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,151 shares of the industrial products company’s stock after selling 1,301 shares during the period. Eaton accounts for about 1.3% of Wambolt & Associates LLC’s portfolio, making the stock its 21st biggest holding. Wambolt & Associates LLC’s holdings in Eaton were worth $4,033,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN raised its holdings in 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 acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton during the third quarter worth approximately $33,000. Finally, Activest Wealth Management boosted its holdings in shares of Eaton by 621.4% during the fourth 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. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETN. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday. Barclays cut their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company decreased their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada cut 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. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Trading Up 2.7 %

Shares of ETN opened at $303.41 on Tuesday. The business’s 50-day moving average price is $310.56 and its 200-day moving average price is $331.79. 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 twelve month low of $255.65 and a twelve month high of $379.99. The stock has a market cap of $118.87 billion, a PE ratio of 31.94, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 firm earned $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company 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 $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.37%. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

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.