Colonial Trust Advisors Sells 762 Shares of Eaton Co. plc (NYSE:ETN)

Colonial Trust Advisors lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,960 shares of the industrial products company’s stock after selling 762 shares during the quarter. Eaton accounts for approximately 1.3% of Colonial Trust Advisors’ portfolio, making the stock its 22nd biggest holding. Colonial Trust Advisors’ holdings in Eaton were worth $14,589,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ETN. Scotia Capital Inc. lifted its stake in Eaton by 3.8% during the 4th quarter. Scotia Capital Inc. now owns 45,660 shares of the industrial products company’s stock valued at $15,155,000 after acquiring an additional 1,664 shares in the last quarter. Phoenix Financial Ltd. raised its stake in shares of Eaton by 1,197.6% during the 4th quarter. Phoenix Financial Ltd. now owns 139,626 shares of the industrial products company’s stock worth $46,338,000 after purchasing an additional 128,866 shares during the period. F M Investments LLC increased its holdings in Eaton by 7.4% in the 4th quarter. F M Investments LLC now owns 37,823 shares of the industrial products company’s stock worth $12,552,000 after acquiring an additional 2,605 shares during the last quarter. CenterBook Partners LP purchased a new stake in Eaton in the 4th quarter worth about $424,000. Finally, DRW Securities LLC increased its holdings in Eaton by 165.0% in the 4th quarter. DRW Securities LLC now owns 12,043 shares of the industrial products company’s stock worth $3,997,000 after acquiring an additional 7,498 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 13.1 %

Shares of NYSE:ETN opened at $284.47 on Thursday. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $111.45 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 2.64 and a beta of 1.09. The stock’s 50-day simple moving average is $291.02 and its two-hundred day simple moving average is $327.97.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter in the previous year, the company posted $2.55 EPS. Analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given 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 of this dividend was Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Barclays dropped their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research note on Friday, April 4th. Finally, Jefferies Financial Group dropped their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company 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 company’s stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $355.06.

About Eaton

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.