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

Buckley Wealth Management LLC lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,985 shares of the industrial products company’s stock after selling 35 shares during the quarter. Buckley Wealth Management LLC’s holdings in Eaton were worth $1,323,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wellington Shields & Co. LLC lifted its position in shares of Eaton by 17.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 3,997 shares of the industrial products company’s stock worth $1,327,000 after buying an additional 581 shares during the last quarter. Midwest Professional Planners LTD. increased its holdings in shares of Eaton by 2.4% in the 4th quarter. Midwest Professional Planners LTD. now owns 16,860 shares of the industrial products company’s stock valued at $5,595,000 after acquiring an additional 396 shares during the period. Wellington Shields Capital Management LLC increased its holdings in shares of Eaton by 31.6% in the 4th quarter. Wellington Shields Capital Management LLC now owns 8,474 shares of the industrial products company’s stock valued at $2,812,000 after acquiring an additional 2,036 shares during the period. Renasant Bank increased its holdings in shares of Eaton by 2.1% in the 4th quarter. Renasant Bank now owns 3,676 shares of the industrial products company’s stock valued at $1,220,000 after acquiring an additional 76 shares during the period. Finally, Atala Financial Inc acquired a new position in shares of Eaton in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $294.53 on Friday. 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 quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $316.31 and its 200-day simple moving average is $331.29. The stock has a market cap of $115.45 billion, a PE 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 quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 last year, the firm posted $2.55 EPS. Analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. Eaton’s payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup cut their target price 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. Jefferies Financial Group cut their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays cut their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $356.20.

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.