Eliot Finkel Investment Counsel LLC Sells 4,660 Shares of Eaton Co. plc (NYSE:ETN)

Eliot Finkel Investment Counsel LLC decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,155 shares of the industrial products company’s stock after selling 4,660 shares during the period. Eaton makes up 8.3% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Eaton were worth $12,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ETN. Noble Wealth Management PBC bought a new position in shares of Eaton during the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% during the 4th 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 in the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter valued at about $33,000. Activest Wealth Management boosted its holdings in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the period. Finally, Hager Investment Management Services LLC acquired a new position in shares of Eaton in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays raised their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Trading Up 1.0 %

NYSE:ETN opened at $293.21 on Friday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a market cap of $115.88 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 2.64 and a beta of 1.05. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $326.90 and its 200-day moving average is $332.55.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 period last year, the business earned $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.42%. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

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.