Buckley Wealth Management LLC Trims Holdings in Eaton Co. plc (NYSE:ETN)

Buckley Wealth Management LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,985 shares of the industrial products company’s stock after selling 35 shares during the period. Buckley Wealth Management LLC’s holdings in Eaton were worth $1,323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Noble Wealth Management PBC purchased a new position in Eaton in the 4th quarter valued at about $30,000. Groupama Asset Managment lifted its holdings in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN lifted its holdings 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 purchased a new position in shares of Eaton during the 3rd quarter worth about $33,000. Finally, Activest Wealth Management lifted its holdings 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. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETN has been the topic of several recent analyst reports. Evercore ISI cut their price objective 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. Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a report on Wednesday. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Finally, Barclays dropped their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $356.20.

Eaton Stock Up 3.8 %

Shares of NYSE:ETN opened at $294.53 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a 50 day moving average of $316.31 and a two-hundred day moving average of $331.29. The company has a market capitalization of $115.45 billion, a price-to-earnings ratio of 31.00, 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 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 quarter in the previous year, the company posted $2.55 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date is 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 yield of 1.41%. Eaton’s dividend payout ratio (DPR) is 43.79%.

Eaton 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.