Sage Mountain Advisors LLC Has $1.80 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Sage Mountain Advisors LLC lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 5,426 shares of the industrial products company’s stock after selling 265 shares during the period. Sage Mountain Advisors LLC’s holdings in Eaton were worth $1,801,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its stake in 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 worth $13,533,000 after purchasing an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. acquired a new stake in Eaton during the fourth quarter worth approximately $297,000. Webster Bank N. A. grew its stake in Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after purchasing an additional 6,166 shares during the period. Ballentine Partners LLC grew its stake in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after acquiring an additional 790 shares during the period. Finally, Blue Trust Inc. grew its stake in Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 1,694 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ETN shares. Barclays reduced their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Melius Research reissued a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Finally, UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $362.58.

Eaton Stock Performance

Shares of Eaton stock opened at $277.16 on Tuesday. The business’s fifty day simple moving average is $320.02 and its 200 day simple moving average is $332.04. The firm has a market capitalization of $108.65 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. 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 issued its quarterly 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the company earned $2.55 EPS. As a group, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a $1.04 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. Eaton’s payout ratio is presently 43.79%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s 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 sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate 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.