Optimum Investment Advisors Sells 1,650 Shares of Eaton Co. plc (NYSE:ETN)

Optimum Investment Advisors decreased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 66.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 825 shares of the industrial products company's stock after selling 1,650 shares during the period. Optimum Investment Advisors' holdings in Eaton were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter worth $33,000. Finally, Activest Wealth Management raised its holdings in shares of Eaton by 621.4% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

ETN stock traded down $4.48 during trading on Thursday, reaching $281.04. 3,454,716 shares of the stock were exchanged, compared to its average volume of 2,428,180. Eaton Co. plc has a twelve month low of $255.65 and a twelve month 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 company has a market capitalization of $110.10 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock has a 50 day simple moving average of $307.35 and a 200-day simple moving average of $331.22.

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Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm posted $2.55 EPS. As a group, sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This is a boost from Eaton's previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. Eaton's dividend payout ratio is currently 43.79%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ETN shares. Evercore ISI decreased their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. StockNews.com lowered Eaton from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. KeyCorp raised Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 target price for the company in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $357.16.

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.