Sequoia Financial Advisors LLC Has $16.49 Million Position in Eaton Co. plc (NYSE:ETN)

Sequoia Financial Advisors LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,693 shares of the industrial products company’s stock after purchasing an additional 1,930 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Eaton were worth $16,491,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ETN. Wetzel Investment Advisors Inc. boosted its stake in shares of Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares in the last quarter. Westmount Partners LLC lifted its position in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after buying an additional 30 shares in the last quarter. Signal Advisors Wealth LLC lifted its position in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after buying an additional 30 shares in the last quarter. Lantz Financial LLC lifted its position in Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after buying an additional 30 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in 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 buying an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

Eaton Stock Performance

Shares of ETN stock opened at $292.13 on Thursday. 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 stock has a market cap of $114.52 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock has a 50-day moving average of $318.25 and a 200-day moving average of $331.65. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the business posted $2.55 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.42%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

Analyst Ratings Changes

ETN has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays reduced their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. UBS Group initiated coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target on the stock. Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group dropped their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.20.

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.