Altrius Capital Management Inc Sells 5,599 Shares of Eaton Co. plc (NYSE:ETN)

Altrius Capital Management Inc cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,875 shares of the industrial products company’s stock after selling 5,599 shares during the period. Eaton accounts for about 2.0% of Altrius Capital Management Inc’s portfolio, making the stock its 15th biggest position. Altrius Capital Management Inc’s holdings in Eaton were worth $7,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Nicholas Hoffman & Company LLC. boosted its stake in Eaton by 3.1% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,432 shares of the industrial products company’s stock worth $475,000 after buying an additional 43 shares during the period. Mutual Advisors LLC boosted its stake in shares of Eaton by 20.5% during the 3rd quarter. Mutual Advisors LLC now owns 6,383 shares of the industrial products company’s stock worth $2,204,000 after purchasing an additional 1,088 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Eaton by 37.6% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 589 shares of the industrial products company’s stock worth $203,000 after buying an additional 161 shares during the period. SteelPeak Wealth LLC boosted its position in Eaton by 121.3% in the 3rd quarter. SteelPeak Wealth LLC now owns 3,714 shares of the industrial products company’s stock valued at $1,231,000 after buying an additional 2,036 shares during the period. Finally, JFS Wealth Advisors LLC grew its stake in Eaton by 75.5% in the third quarter. JFS Wealth Advisors LLC now owns 2,910 shares of the industrial products company’s stock worth $965,000 after purchasing an additional 1,252 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Shares of NYSE ETN opened at $290.08 on Friday. The stock has a market cap of $114.64 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a 50 day simple moving average of $327.80 and a two-hundred day simple moving average of $332.26. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 in the previous year, the firm posted $2.55 earnings per share. As a group, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. Eaton’s payout ratio is currently 39.58%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Bank of America raised their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Mizuho lifted their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

Insider Activity at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% 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.