Eaton Co. plc (NYSE:ETN) Shares Sold by Haverford Trust Co

Haverford Trust Co trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 381,816 shares of the industrial products company’s stock after selling 1,052 shares during the quarter. Eaton makes up approximately 1.3% of Haverford Trust Co’s investment portfolio, making the stock its 26th largest position. Haverford Trust Co’s holdings in Eaton were worth $126,713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its holdings in Eaton by 48.9% in the 3rd 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. acquired a new position in Eaton in the fourth quarter valued at approximately $297,000. Webster Bank N. A. grew its position in Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after acquiring an additional 6,166 shares during the period. Ballentine Partners LLC increased its stake in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after acquiring an additional 790 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Eaton by 13.2% in the 4th 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. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ETN shares. 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 research report on Wednesday, February 19th. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. 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. JPMorgan Chase & Co. dropped their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Trading Up 0.1 %

Shares of Eaton stock opened at $295.88 on Monday. The company has a 50-day moving average of $311.30 and a two-hundred day moving average of $331.67. The stock has a market cap of $115.92 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 Co. plc has a 12-month low of $255.65 and a 12-month 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 for the quarter, beating the consensus estimate 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 period last year, the business earned $2.55 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

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.