Level Four Advisory Services LLC Sells 628 Shares of Eaton Co. plc (NYSE:ETN)

Level Four Advisory Services LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,066 shares of the industrial products company’s stock after selling 628 shares during the quarter. Level Four Advisory Services LLC’s holdings in Eaton were worth $7,323,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC purchased a new position in Eaton in the fourth quarter worth $4,148,000. Providence Capital Advisors LLC boosted its stake in Eaton by 0.3% in the 4th quarter. Providence Capital Advisors LLC now owns 19,206 shares of the industrial products company’s stock worth $6,374,000 after purchasing an additional 60 shares in the last quarter. Norges Bank acquired a new position in shares of Eaton in the fourth quarter valued at about $1,495,582,000. Blair William & Co. IL raised its stake in shares of Eaton by 32.4% in the fourth quarter. Blair William & Co. IL now owns 82,888 shares of the industrial products company’s stock worth $27,508,000 after purchasing an additional 20,275 shares during the last quarter. Finally, LM Advisors LLC acquired a new stake in shares of Eaton during the fourth quarter worth about $880,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ETN shares. Wells Fargo & Company decreased their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Barclays reduced their target price on Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a research note on Wednesday. Jefferies Financial Group dropped their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Evercore ISI decreased their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton Stock Performance

NYSE:ETN opened at $281.04 on Friday. The company has a market cap of $110.10 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a fifty day simple moving average of $307.35 and a two-hundred day simple moving average of $331.22.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 last year, the business earned $2.55 EPS. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 1.48%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is presently 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.