Eaton Co. plc (NYSE:ETN) Shares Sold by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. lessened its stake in Eaton Co. plc (NYSE:ETN) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,424 shares of the industrial products company’s stock after selling 170 shares during the period. Eaton accounts for approximately 1.0% of Heritage Wealth Management Inc.’s portfolio, making the stock its 16th largest position. Heritage Wealth Management Inc.’s holdings in Eaton were worth $3,128,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new position in Eaton in the fourth quarter valued at $30,000. Horizon Bancorp Inc. IN boosted its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton during the third quarter worth about $33,000. Activest Wealth Management boosted its stake in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the period. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Eaton during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ETN shares. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. Finally, Jefferies Financial Group increased their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton Price Performance

ETN stock opened at $293.21 on Friday. The firm has a 50 day moving average of $326.90 and a 200-day moving average of $332.55. 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. The company has a market cap of $115.88 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 2.64 and a beta of 1.05.

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, topping 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 quarter in the prior year, the company posted $2.55 earnings per share. As a group, equities analysts expect 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 given a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is currently 43.79%.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of Eaton 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Eaton Company 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.