Bryn Mawr Capital Management LLC Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Bryn Mawr Capital Management LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 78.9% in the 4th quarter, Holdings Channel reports. The firm owned 1,340 shares of the industrial products company’s stock after selling 5,009 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Eaton were worth $445,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN increased its stake in shares of Eaton by 321.7% in 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 last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton in the 3rd quarter worth $33,000. Activest Wealth Management increased its stake in shares of Eaton by 621.4% in 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 last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Eaton in the 4th quarter worth $38,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Eaton in the 4th quarter worth $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Barclays raised their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price for the company. Finally, Bank of America lifted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $366.05.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Eaton Trading Down 2.4 %

NYSE:ETN opened at $290.08 on Friday. The firm has a market cap of $114.64 billion, a P/E ratio of 30.53, a PEG ratio of 2.64 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $327.80 and its 200-day simple moving average is $332.26. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

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 last year, the company earned $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.43%. Eaton’s payout ratio is 39.58%.

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.