Bryn Mawr Capital Management LLC Sells 5,009 Shares of Eaton Co. plc (NYSE:ETN)

Bryn Mawr Capital Management LLC lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 78.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,340 shares of the industrial products company’s stock after selling 5,009 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Eaton were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nicholas Hoffman & Company LLC. increased its position in Eaton by 3.1% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,432 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 43 shares during the last quarter. Mutual Advisors LLC increased its position in Eaton by 20.5% in the third quarter. Mutual Advisors LLC now owns 6,383 shares of the industrial products company’s stock worth $2,204,000 after purchasing an additional 1,088 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Eaton by 37.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 589 shares of the industrial products company’s stock worth $203,000 after buying an additional 161 shares during the period. SteelPeak Wealth LLC boosted its stake in Eaton by 121.3% during the third quarter. SteelPeak Wealth LLC now owns 3,714 shares of the industrial products company’s stock worth $1,231,000 after buying an additional 2,036 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in Eaton by 75.5% during the third quarter. JFS Wealth Advisors LLC now owns 2,910 shares of the industrial products company’s stock worth $965,000 after buying an additional 1,252 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ETN shares. Bank of America lifted their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company reissued an “equal weight” rating on shares of Eaton in a research note on Thursday, February 13th. Citigroup lowered their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Insider Activity

In related news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock opened at $290.08 on Friday. The company has a market capitalization of $114.64 billion, a PE ratio of 30.53, a P/E/G ratio of 2.64 and a beta of 1.05. 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 company has a 50-day simple moving average of $327.80 and a two-hundred day simple moving average of $332.26. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 period in the prior year, the firm earned $2.55 earnings per share. Research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 39.58%.

About Eaton

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.