GC Wealth Management RIA LLC Lowers Stock Holdings in Eaton Co. plc (NYSE:ETN)

GC Wealth Management RIA LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 53.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,363 shares of the industrial products company’s stock after selling 2,756 shares during the period. GC Wealth Management RIA LLC’s holdings in Eaton were worth $784,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. purchased a new position in shares of Eaton during the fourth quarter valued at approximately $297,000. Webster Bank N. A. lifted its holdings in shares of Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after purchasing an additional 6,166 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 790 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after purchasing an additional 1,694 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Eaton 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 value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Eaton Trading Down 2.7 %

Shares of ETN stock opened at $277.16 on Tuesday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm has a fifty day moving average price of $320.02 and a 200-day moving average price of $332.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $108.65 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 2.64 and a beta of 1.09.

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 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 prior year, the business posted $2.55 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently disclosed 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 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 dividend on an annualized basis and a dividend yield of 1.50%. Eaton’s payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Barclays decreased their price objective on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Evercore ISI decreased their price objective on shares of 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 decreased their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Finally, Citigroup decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $362.58.

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.