Ancora Advisors LLC decreased its holdings in Eaton Co. PLC (NYSE:ETN) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,317 shares of the industrial products company’s stock after selling 2,262 shares during the period. Ancora Advisors LLC’s holdings in Eaton were worth $10,253,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Highwater Wealth Management LLC acquired a new position in shares of Eaton during the fourth quarter worth $26,000. Athena Capital Advisors LLC acquired a new position in shares of Eaton during the fourth quarter worth $27,000. Bremer Trust National Association acquired a new position in shares of Eaton during the fourth quarter worth $29,000. Legacy Financial Advisors Inc. grew its stake in shares of Eaton by 53.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 454 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 159 shares in the last quarter. Finally, Berman Capital Advisors LLC acquired a new position in shares of Eaton during the fourth quarter worth $32,000. Institutional investors and hedge funds own 76.39% of the company’s stock.
In other news, insider Joao V. Faria sold 5,000 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $76.73, for a total value of $383,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis J. Hutchins sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.60, for a total transaction of $967,200.00. The disclosure for this sale can be found here. Insiders sold 73,214 shares of company stock valued at $5,709,455 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.
Eaton (NYSE:ETN) last announced its earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Eaton had a net margin of 9.93% and a return on equity of 14.06%. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.42 billion. On average, sell-side analysts anticipate that Eaton Co. PLC will post 5.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th will be issued a $0.71 dividend. The ex-dividend date is Thursday, March 7th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.50%. Eaton’s payout ratio is 52.69%.
A number of brokerages recently commented on ETN. Wells Fargo & Co boosted their target price on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. They noted that the move was a valuation call. Vertical Research upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research note on Monday, March 4th. Morgan Stanley set a $82.00 target price on shares of Eaton and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Robert W. Baird set a $89.00 target price on shares of Eaton and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Finally, Zacks Investment Research downgraded shares of Eaton from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Three analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $86.38.
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Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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