Freestone Capital Holdings LLC Sells 421 Shares of Eaton Co. plc (NYSE:ETN)

Freestone Capital Holdings LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,249 shares of the industrial products company’s stock after selling 421 shares during the period. Freestone Capital Holdings LLC’s holdings in Eaton were worth $9,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in ETN. Noble Wealth Management PBC acquired a new position in Eaton during the fourth quarter valued at approximately $30,000. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton in the third quarter valued at $33,000. Finally, Activest Wealth Management increased its holdings in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Price Performance

Shares of NYSE ETN opened at $287.85 on Thursday. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The stock has a market cap of $112.84 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.64 and a beta of 1.09. 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 firm’s 50-day simple moving average is $323.38 and its 200 day simple moving average is $332.18.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 period in the previous year, the business posted $2.55 EPS. As a group, research analysts anticipate 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. Shareholders of record on Monday, March 10th will be paid a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.45%. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group upped their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays cut their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Bank of America upped their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $363.15.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

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.