Eaton Co. plc (NYSE:ETN) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC lessened its holdings in Eaton Co. plc (NYSE:ETN) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,923 shares of the industrial products company’s stock after selling 121 shares during the period. Schechter Investment Advisors LLC’s holdings in Eaton were worth $1,186,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. 1832 Asset Management L.P. raised its stake in shares of Eaton by 25.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 604,662 shares of the industrial products company’s stock valued at $121,598,000 after acquiring an additional 120,746 shares during the period. BCS Wealth Management purchased a new stake in Eaton during the 3rd quarter worth $216,000. Sandler Capital Management increased its stake in Eaton by 102.2% during the 2nd quarter. Sandler Capital Management now owns 95,768 shares of the industrial products company’s stock worth $19,259,000 after buying an additional 48,410 shares during the period. Neo Ivy Capital Management purchased a new stake in Eaton during the 3rd quarter worth $479,000. Finally, Kingswood Wealth Advisors LLC increased its stake in Eaton by 96.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 7,746 shares of the industrial products company’s stock worth $1,865,000 after buying an additional 3,800 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.8 %

Eaton stock opened at $314.63 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $278.80 and a two-hundred day moving average price of $242.64. The firm has a market capitalization of $125.69 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.59 and a beta of 1.07. Eaton Co. plc has a 52-week low of $155.38 and a 52-week high of $317.02.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. Eaton’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.06 EPS. Sell-side analysts expect that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 11th will be paid a $0.94 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, March 8th. Eaton’s dividend payout ratio is currently 46.88%.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. Mizuho lifted their price target on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Citigroup boosted their target price on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI boosted their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. UBS Group boosted their target price on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $274.20.

Insider Transactions at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The disclosure for this sale can be found here. In the last three months, insiders sold 38,969 shares of company stock valued at $10,904,774. Company insiders own 0.53% of the company’s stock.

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.