Good Life Advisors LLC Has $556,000 Stock Holdings in Eaton Co. plc (NYSE:ETN)

Good Life Advisors LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,307 shares of the industrial products company’s stock after selling 305 shares during the quarter. Good Life Advisors LLC’s holdings in Eaton were worth $556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock valued at $7,749,751,000 after acquiring an additional 176,900 shares during the period. FMR LLC lifted its position in shares of Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after acquiring an additional 5,270,331 shares during the period. State Street Corp lifted its position in shares of Eaton by 3.0% during the 2nd quarter. State Street Corp now owns 17,034,288 shares of the industrial products company’s stock valued at $3,425,595,000 after acquiring an additional 495,948 shares during the period. Morgan Stanley lifted its position in shares of Eaton by 26.2% during the 4th quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company’s stock worth $1,968,521,000 after buying an additional 2,602,246 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Eaton by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 7,084,548 shares of the industrial products company’s stock worth $1,210,672,000 after buying an additional 136,334 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.5 %

NYSE ETN opened at $312.68 on Friday. The business has a 50 day simple moving average of $280.35 and a 200 day simple moving average of $243.15. Eaton Co. plc has a one year low of $155.38 and a one year high of $317.02. The stock has a market capitalization of $124.92 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02.

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

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 11th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $3.76 annualized dividend and a yield of 1.20%. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio (DPR) is currently 46.88%.

Analyst Ratings Changes

Several analysts recently weighed in on ETN shares. Berenberg Bank upped their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Bank of America increased their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Evercore ISI increased their target price on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Mizuho increased their target price on Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company increased their target price on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.20.

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.