Moran Wealth Management LLC Reduces Stock Holdings in Eaton Co. plc (NYSE:ETN)

Moran Wealth Management LLC cut its holdings in Eaton Co. plc (NYSE:ETN) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,511 shares of the industrial products company’s stock after selling 1,696 shares during the period. Moran Wealth Management LLC’s holdings in Eaton were worth $22,073,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after purchasing an additional 56,516 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after purchasing an additional 316,830 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Eaton by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company’s stock worth $748,555,000 after buying an additional 37,138 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETN has been the topic of several recent research reports. Barclays reduced their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Finally, Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $362.58.

Eaton Stock Performance

Shares of NYSE:ETN opened at $285.29 on Monday. The company has a market cap of $111.83 billion, a P/E ratio of 30.03, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business’s 50-day simple moving average is $321.13 and its 200 day simple moving average is $332.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last posted its 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 in the previous year, the company earned $2.55 EPS. On average, sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the company’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 directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

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.