Balboa Wealth Partners Sells 224 Shares of Eaton Co. plc (NYSE:ETN)

Balboa Wealth Partners reduced its position in Eaton Co. plc (NYSE:ETN) by 11.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,675 shares of the industrial products company’s stock after selling 224 shares during the period. Balboa Wealth Partners’ holdings in Eaton were worth $556,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETN. Noble Wealth Management PBC acquired a new position in shares of Eaton during the 4th quarter worth approximately $30,000. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter worth about $33,000. Finally, Activest Wealth Management grew its stake in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Eaton stock opened at $283.16 on Friday. The business has a 50 day moving average of $317.27 and a 200-day moving average of $331.31. 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 1 year low of $255.65 and a 1 year high of $379.99. The company has a market capitalization of $111.00 billion, a P/E ratio of 29.81, a P/E/G ratio of 2.64 and a beta of 1.09.

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

Eaton Increases Dividend

The business also recently disclosed 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 is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ETN shares. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a report on Wednesday. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. 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. JPMorgan Chase & Co. reduced their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their target price 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. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average target price of $356.20.

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.