Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 64 Shares of Eaton Co. plc (NYSE:ETN)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,848 shares of the industrial products company’s stock after selling 64 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Eaton were worth $945,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ETN. Ashton Thomas Private Wealth LLC grew its stake in Eaton by 4.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 25,786 shares of the industrial products company’s stock worth $8,557,000 after purchasing an additional 1,110 shares during the period. Callan Family Office LLC grew its holdings in Eaton by 915.7% in the fourth quarter. Callan Family Office LLC now owns 12,381 shares of the industrial products company’s stock worth $4,109,000 after purchasing an additional 11,162 shares during the period. EagleClaw Capital Managment LLC increased its position in Eaton by 1.4% in the 4th quarter. EagleClaw Capital Managment LLC now owns 42,008 shares of the industrial products company’s stock valued at $13,941,000 after buying an additional 568 shares in the last quarter. Chatham Capital Group Inc. increased its holdings in shares of Eaton by 8.0% during the fourth quarter. Chatham Capital Group Inc. now owns 677 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 50 shares in the last quarter. Finally, Welch & Forbes LLC lifted its holdings in shares of Eaton by 29.1% in the 4th quarter. Welch & Forbes LLC now owns 3,567 shares of the industrial products company’s stock worth $1,184,000 after purchasing an additional 803 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ETN. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Finally, Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $362.58.

Eaton Price Performance

Shares of NYSE ETN opened at $285.29 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $321.13 and a two-hundred day simple moving average of $331.71. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm has a market cap of $111.83 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business posted $2.55 earnings per share. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

Eaton Company 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.