Samalin Investment Counsel LLC Lowers Stock Holdings in Eaton Co. plc (NYSE:ETN)

Samalin Investment Counsel LLC reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,780 shares of the industrial products company’s stock after selling 37 shares during the period. Eaton comprises about 1.0% of Samalin Investment Counsel LLC’s holdings, making the stock its 21st largest holding. Samalin Investment Counsel LLC’s holdings in Eaton were worth $2,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. United Bank purchased a new position in Eaton in the third quarter valued at $258,000. GSA Capital Partners LLP purchased a new position in Eaton in the third quarter valued at $295,000. King Luther Capital Management Corp boosted its holdings in Eaton by 15.7% in the third quarter. King Luther Capital Management Corp now owns 3,848 shares of the industrial products company’s stock valued at $1,275,000 after purchasing an additional 521 shares during the period. CFS Investment Advisory Services LLC boosted its holdings in Eaton by 5.5% in the third quarter. CFS Investment Advisory Services LLC now owns 712 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 37 shares during the period. Finally, Allen Capital Group LLC purchased a new position in Eaton in the third quarter valued at $207,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ETN shares. Evercore ISI decreased their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Citigroup cut their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $357.68.

Eaton Stock Performance

NYSE ETN opened at $295.88 on Friday. 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 business’s 50-day moving average price is $311.30 and its 200 day moving average price is $331.37. The firm has a market cap of $115.92 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $2.55 EPS. On average, equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm 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 $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 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.