Leeward Financial Partners LLC Sells 2,332 Shares of Eaton Co. plc (NYSE:ETN)

Leeward Financial Partners LLC lowered its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,434 shares of the industrial products company's stock after selling 2,332 shares during the period. Eaton comprises about 2.2% of Leeward Financial Partners LLC's portfolio, making the stock its 13th largest holding. Leeward Financial Partners LLC's holdings in Eaton were worth $6,118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN grew its holdings 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 purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the fourth quarter valued at approximately $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 0.7 %

NYSE:ETN traded down $1.79 during mid-day trading on Tuesday, hitting $250.67. 4,309,735 shares of the company's stock were exchanged, compared to its average volume of 2,592,688. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $98.20 billion, a P/E ratio of 26.39, a PEG ratio of 2.64 and a beta of 1.09. The company has a 50 day simple moving average of $295.28 and a 200-day simple moving average of $329.70.

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Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business earned $2.55 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date was 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 1.66%. Eaton's dividend payout ratio is 43.79%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ETN shares. Evercore ISI decreased their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada cut their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. StockNews.com downgraded Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, KeyCorp reduced their price target on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $352.79.

Eaton 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.