Sequoia Financial Advisors LLC Has $16.49 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Sequoia Financial Advisors LLC grew its position in shares of Eaton Co. plc (NYSE:ETN) by 4.0% in the fourth quarter, HoldingsChannel reports. The fund owned 49,693 shares of the industrial products company’s stock after acquiring an additional 1,930 shares during the period. Sequoia Financial Advisors LLC’s holdings in Eaton were worth $16,491,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ETN. United Bank acquired a new position in Eaton during the 3rd quarter worth approximately $258,000. Wolverine Asset Management LLC acquired a new position in Eaton during the 3rd quarter worth approximately $1,160,000. Venturi Wealth Management LLC boosted its position in Eaton by 2.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 32 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Eaton by 72.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,419 shares of the industrial products company’s stock valued at $1,133,000 after buying an additional 1,434 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Eaton in the 3rd quarter valued at approximately $295,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 3.5 %

ETN stock opened at $292.13 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $114.52 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.64 and a beta of 1.09. The business’s fifty day moving average price is $318.25 and its two-hundred day moving average price is $331.65. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 previous year, the business posted $2.55 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the firm’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 transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

ETN has been the subject of several recent analyst reports. Royal Bank of Canada cut their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a report on Wednesday. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $356.20.

About Eaton

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.