Excalibur Management Corp Sells 85 Shares of Eaton Co. plc (NYSE:ETN)

Excalibur Management Corp lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,873 shares of the industrial products company’s stock after selling 85 shares during the period. Excalibur Management Corp’s holdings in Eaton were worth $1,617,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in Eaton during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton during the 4th quarter valued at $30,000. Horizon Bancorp Inc. IN boosted its stake in Eaton by 321.7% during the fourth 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 in the last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the third quarter worth $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the fourth quarter valued at $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 0.9 %

ETN stock opened at $300.11 on Wednesday. The company has a market capitalization of $117.57 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two 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 fifty day moving average of $309.76 and a 200-day moving average of $331.90.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates 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 company posted $2.55 EPS. As a group, equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given 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 dividend yield of 1.39%. Eaton’s dividend payout ratio is currently 43.79%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Barclays reduced their price target 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. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research note on Wednesday, March 12th. Finally, Melius Research reissued a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.