Stokes Family Office LLC Sells 208 Shares of Eaton Co. plc (NYSE:ETN)

Stokes Family Office LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 2.1% in the fourth quarter, Holdings Channel reports. The fund owned 9,880 shares of the industrial products company’s stock after selling 208 shares during the quarter. Stokes Family Office LLC’s holdings in Eaton were worth $3,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in ETN. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the fourth quarter valued at about $30,000. Groupama Asset Managment lifted its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN lifted its stake in shares of 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 buying an additional 74 shares during the period. Finally, Morse Asset Management Inc bought a new stake in shares of Eaton in the third quarter valued at about $33,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ETN shares. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Jefferies Financial Group dropped their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Evercore ISI dropped their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada dropped their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Price Performance

Eaton stock opened at $290.59 on Wednesday. The firm has a market capitalization of $113.91 billion, a P/E ratio of 30.59, a PEG ratio of 2.64 and a beta of 1.09. The business has a 50-day moving average of $314.23 and a 200-day moving average of $331.66. 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 1 year low of $255.65 and a 1 year high of $379.99.

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, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the company earned $2.55 earnings per share. On average, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued 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 yield of 1.43%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 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.