Eaton Co. plc (NYSE:ETN) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,512 shares of the industrial products company’s stock after selling 51 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Eaton were worth $834,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after purchasing an additional 730,594 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Eaton in the third quarter valued at about $137,794,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after purchasing an additional 390,595 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 1.0 %

Shares of Eaton stock opened at $293.21 on Friday. 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 business’s 50 day simple moving average is $326.90 and its 200-day simple moving average is $332.29. The stock has a market capitalization 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 Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the company posted $2.55 EPS. Equities research analysts forecast 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 given a $1.04 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 39.58%.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a report on Tuesday, January 28th. Wells Fargo & Company reissued an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Finally, Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

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.