Dearborn Partners LLC Sells 50 Shares of Eaton Co. plc (NYSE:ETN)

Dearborn Partners LLC lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,753 shares of the industrial products company’s stock after selling 50 shares during the period. Dearborn Partners LLC’s holdings in Eaton were worth $1,246,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wetzel Investment Advisors Inc. lifted its position in Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 28 shares in the last quarter. Westmount Partners LLC increased its position in shares of Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the last quarter. Signal Advisors Wealth LLC boosted its position in Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 30 shares during the last quarter. Lantz Financial LLC grew its stake in Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 30 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Down 2.7 %

ETN stock opened at $277.16 on Tuesday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a market capitalization of $108.65 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company’s 50-day simple moving average is $320.02 and its 200 day simple moving average is $332.04. 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 announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 posted $2.55 EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.50%. Eaton’s payout ratio is currently 43.79%.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the business’s 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 transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ETN. Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company cut their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Citigroup lowered their price objective 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. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Finally, Barclays lowered their price target 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. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $362.58.

Eaton Company 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.