Atlanta Consulting Group Advisors LLC Decreases Holdings in Eaton Co. plc (NYSE:ETN)

Atlanta Consulting Group Advisors LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,805 shares of the industrial products company’s stock after selling 51 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Eaton were worth $931,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ETN. Noble Wealth Management PBC bought a new stake in Eaton during the 4th quarter valued at $30,000. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in Eaton during the 3rd quarter valued at $33,000. Activest Wealth Management raised its holdings in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the last quarter. Finally, Knuff & Co LLC bought a new stake in Eaton during the 4th quarter valued at $37,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of ETN stock opened at $294.53 on Monday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company’s 50-day moving average is $316.31 and its 200 day moving average is $331.81. The company has a market capitalization of $115.45 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business 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 dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.41%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 43.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ETN shares. Royal Bank of Canada lowered their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Barclays reduced their price objective 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. Finally, Evercore ISI reduced their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $357.68.

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.