Eaton Co. plc (NYSE:ETN) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in Eaton Co. plc (NYSE:ETN) by 39.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 428 shares of the industrial products company’s stock after selling 279 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Eaton were worth $105,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management boosted its holdings in Eaton by 5.1% in the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 277 shares during the period. Pacer Advisors Inc. boosted its holdings in Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock valued at $8,205,000 after purchasing an additional 7,964 shares during the period. Chicago Capital LLC purchased a new stake in Eaton during the 4th quarter worth about $2,958,000. Neo Ivy Capital Management purchased a new stake in Eaton during the 3rd quarter worth about $479,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in Eaton by 13.6% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock worth $351,000 after buying an additional 174 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the subject of a number of recent analyst reports. Evercore ISI lifted their price target on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. UBS Group lifted their price target on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Finally, Berenberg Bank lifted their target price on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $295.60.

Eaton Stock Performance

Shares of ETN stock opened at $312.90 on Wednesday. The stock has a market capitalization of $125.00 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.07. Eaton Co. plc has a 52-week low of $161.12 and a 52-week high of $331.47. The stock’s 50-day moving average price is $302.20 and its 200 day moving average price is $256.66. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. The firm had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS. As a group, equities research analysts forecast that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.20%. Eaton’s payout ratio is 46.88%.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now owns 69,472 shares in the company, valued at approximately $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,969 shares of company stock worth $10,904,774. Company insiders own 0.33% of the company’s stock.

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.