Atlas Capital Advisors Inc. Sells 62 Shares of Eaton Co. plc (NYSE:ETN)

Atlas Capital Advisors Inc. cut its position in shares of Eaton Co. plc (NYSE:ETN) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,582 shares of the industrial products company’s stock after selling 62 shares during the period. Atlas Capital Advisors Inc.’s holdings in Eaton were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the fourth quarter worth about $30,000. Groupama Asset Managment lifted its stake in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN boosted its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on ETN. Wells Fargo & Company cut their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Barclays reduced their price target on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Jefferies Financial Group lowered their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Finally, Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton Stock Down 8.1 %

Eaton stock opened at $260.74 on Friday. The company has a fifty day simple moving average of $298.88 and a 200 day simple moving average of $330.42. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a market cap of $102.15 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company earned $2.55 EPS. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.60%. Eaton’s dividend payout ratio (DPR) 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.