Eaton Co. plc (NYSE:ETN) Stock Position Lessened by WealthBridge Investment Counsel Inc.
Posted On March 25, 2022
WealthBridge Investment Counsel Inc. lessened its holdings in Eaton Co. plc (NYSE:ETN – Get Rating) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 46,140 shares of the industrial products company’s stock after selling 315 shares during the quarter. Eaton comprises 3.4% of WealthBridge Investment Counsel Inc.’s investment portfolio, making the stock its 10th biggest holding. WealthBridge Investment Counsel Inc.’s holdings in Eaton were worth $7,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bell Investment Advisors Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $27,000. Arlington Partners LLC acquired a new position in shares of Eaton in the fourth quarter valued at approximately $31,000. Eagle Bay Advisors LLC raised its position in shares of Eaton by 137.3% in the third quarter. Eagle Bay Advisors LLC now owns 242 shares of the industrial products company’s stock valued at $36,000 after buying an additional 140 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Eaton by 52.1% in the third quarter. Rosenberg Matthew Hamilton now owns 251 shares of the industrial products company’s stock valued at $37,000 after buying an additional 86 shares during the last quarter. Finally, Tompkins Financial Corp acquired a new position in shares of Eaton in the third quarter valued at approximately $37,000. 77.41% of the stock is currently owned by institutional investors.
Several brokerages recently commented on ETN. StockNews.com raised shares of Eaton from a “hold” rating to a “buy” rating in a research report on Friday, March 11th. Wolfe Research dropped their price target on shares of Eaton from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Monday, February 7th. Royal Bank of Canada upped their price target on shares of Eaton from $153.00 to $156.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 2nd. Barclays dropped their price target on shares of Eaton from $170.00 to $162.00 and set an “equal weight” rating for the company in a research report on Monday, February 7th. Finally, Credit Suisse Group upped their price target on shares of Eaton from $184.00 to $186.00 and gave the stock an “outperform” rating in a research report on Monday, February 7th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $175.35.
Shares of ETN stock traded up $0.77 on Thursday, hitting $153.20. The stock had a trading volume of 1,070,748 shares, compared to its average volume of 2,124,228. The firm has a market capitalization of $61.10 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 1.88 and a beta of 1.20. The stock’s 50 day moving average is $154.37 and its 200-day moving average is $161.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 1.04. Eaton Co. plc has a 52-week low of $131.86 and a 52-week high of $175.72.
Eaton (NYSE:ETN – Get Rating) last announced its earnings results on Friday, February 4th. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.01. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.91 billion. Eaton had a net margin of 10.92% and a return on equity of 16.90%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. Equities analysts expect that Eaton Co. plc will post 7.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 31st. Stockholders of record on Friday, March 11th will be paid a $0.81 dividend. The ex-dividend date is Thursday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.76. This represents a $3.24 annualized dividend and a dividend yield of 2.11%. Eaton’s dividend payout ratio is 60.67%.
In other news, Director Sandra Pianalto acquired 243 shares of the company’s stock in a transaction that occurred on Tuesday, February 8th. The shares were acquired at an average price of $151.58 per share, with a total value of $36,833.94. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joao V. Faria sold 11,852 shares of the stock in a transaction dated Tuesday, March 8th. The stock was sold at an average price of $150.00, for a total transaction of $1,777,800.00. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.
Eaton Profile (Get Rating)
Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.
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