Oak Harbor Wealth Partners LLC Has $2.28 Million Holdings in Eaton Co. plc (NYSE:ETN)

Oak Harbor Wealth Partners LLC decreased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 3.0% in the 4th quarter, Holdings Channel reports. The fund owned 6,873 shares of the industrial products company’s stock after selling 209 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Eaton were worth $2,281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ETN. Advisor Resource Council acquired a new position in Eaton during the third quarter worth about $391,000. Walkner Condon Financial Advisors LLC bought a new stake in shares of Eaton during the third quarter worth about $241,000. Principal Financial Group Inc. grew its holdings in shares of Eaton by 4.1% during the third quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company’s stock worth $151,584,000 after purchasing an additional 17,965 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in Eaton by 22.6% in the third quarter. Kornitzer Capital Management Inc. KS now owns 8,714 shares of the industrial products company’s stock valued at $2,888,000 after acquiring an additional 1,604 shares during the last quarter. Finally, Consolidated Planning Corp boosted its holdings in Eaton by 2.0% in the third quarter. Consolidated Planning Corp now owns 23,929 shares of the industrial products company’s stock valued at $7,931,000 after acquiring an additional 463 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ETN shares. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays cut their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $362.58.

Eaton Price Performance

Shares of NYSE:ETN opened at $285.29 on Friday. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The stock has a market cap of $111.83 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock’s fifty day simple moving average is $321.13 and its two-hundred day simple moving average is $331.71. 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 announced its earnings results 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 quarter last year, the firm posted $2.55 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.46%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is 43.79%.

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.