Haverford Financial Services Inc. Sells 1,603 Shares of Eaton Co. plc (NYSE:ETN)

Haverford Financial Services Inc. lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,211 shares of the industrial products company’s stock after selling 1,603 shares during the period. Eaton makes up 3.3% of Haverford Financial Services Inc.’s portfolio, making the stock its 14th biggest position. Haverford Financial Services Inc.’s holdings in Eaton were worth $10,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton during the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN boosted its stake in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter worth approximately $33,000. Finally, Activest Wealth Management boosted its stake in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.1 %

Shares of ETN opened at $295.88 on Friday. The company 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 Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company’s fifty day simple moving average is $311.30 and its 200-day simple moving average is $331.37. 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 (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the business posted $2.55 EPS. As a group, analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a report on Friday. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Finally, Evercore ISI reduced their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

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.