Eaton Co. plc (NYSE:ETN) Stock Holdings Lessened by L & S Advisors Inc

L & S Advisors Inc trimmed its stake in Eaton Co. plc (NYSE:ETN) by 24.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,357 shares of the industrial products company’s stock after selling 9,371 shares during the quarter. Eaton makes up 1.0% of L & S Advisors Inc’s holdings, making the stock its 24th largest holding. L & S Advisors Inc’s holdings in Eaton were worth $9,411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ETN. United Bank purchased a new stake in shares of Eaton in the 3rd quarter valued at approximately $258,000. Townsquare Capital LLC lifted its holdings in shares of Eaton by 48.1% in the third quarter. Townsquare Capital LLC now owns 5,081 shares of the industrial products company’s stock valued at $1,684,000 after purchasing an additional 1,651 shares in the last quarter. Freedom Investment Management Inc. boosted its position in shares of Eaton by 117.2% in the third quarter. Freedom Investment Management Inc. now owns 2,433 shares of the industrial products company’s stock worth $806,000 after buying an additional 1,313 shares during the period. CreativeOne Wealth LLC grew its holdings in shares of Eaton by 114.1% during the third quarter. CreativeOne Wealth LLC now owns 2,843 shares of the industrial products company’s stock valued at $942,000 after buying an additional 1,515 shares in the last quarter. Finally, Fiduciary Trust Co raised its position in Eaton by 26.6% during the third quarter. Fiduciary Trust Co now owns 25,221 shares of the industrial products company’s stock valued at $8,359,000 after buying an additional 5,303 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE:ETN opened at $274.05 on Friday. The firm’s 50-day moving average is $305.90 and its 200-day moving average is $331.12. The company has a market cap of $107.37 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 period last year, the business posted $2.55 EPS. Equities research 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 was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research analyst reports. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group reduced their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada dropped their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Evercore ISI cut their price target 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 assigned a buy rating to the stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $357.16.

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.