West Michigan Advisors LLC Has $3.99 Million Holdings in Eaton Co. plc (NYSE:ETN)

West Michigan Advisors LLC reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,028 shares of the industrial products company’s stock after selling 191 shares during the quarter. Eaton accounts for approximately 1.2% of West Michigan Advisors LLC’s holdings, making the stock its 21st biggest position. West Michigan Advisors LLC’s holdings in Eaton were worth $3,992,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after buying an additional 56,516 shares during the period. Franklin Resources Inc. increased its holdings in Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares during the period. Janus Henderson Group PLC increased its holdings in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Eaton by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock valued at $476,582,000 after buying an additional 13,862 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ETN has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a report on Thursday, February 13th. UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton Stock Performance

Eaton stock opened at $293.21 on Friday. 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 Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a market cap of $115.88 billion, a PE ratio of 30.86, a PEG ratio of 2.64 and a beta of 1.05. The company’s 50-day moving average is $326.90 and its two-hundred day moving average is $332.29.

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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the firm posted $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. 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 yield of 1.42%. Eaton’s dividend payout ratio is presently 39.58%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% 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.