Shorepoint Capital Partners LLC Trims Stock Position in Eaton Co. plc (NYSE:ETN)

Shorepoint Capital Partners LLC decreased its position in Eaton Co. plc (NYSE:ETN - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,701 shares of the industrial products company's stock after selling 1,123 shares during the period. Eaton accounts for approximately 1.8% of Shorepoint Capital Partners LLC's investment portfolio, making the stock its 12th largest position. Shorepoint Capital Partners LLC's holdings in Eaton were worth $7,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wetzel Investment Advisors Inc. boosted its stake in Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock worth $1,029,000 after buying an additional 28 shares during the period. Westmount Partners LLC boosted its position in shares of Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock worth $327,000 after purchasing an additional 30 shares during the period. Signal Advisors Wealth LLC increased its holdings in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after purchasing an additional 30 shares during the last quarter. Lantz Financial LLC raised its position in Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after purchasing an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock worth $544,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Up 0.7 %

ETN opened at $288.91 on Friday. 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 market capitalization of $113.19 billion, a PE ratio of 30.41, a P/E/G ratio of 2.64 and a beta of 1.09. The stock's fifty day moving average is $281.54 and its 200-day moving average is $323.21. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 business earned $2.55 EPS. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio is currently 43.79%.

Analyst Ratings Changes

Several research firms have weighed in on ETN. KeyCorp dropped their target price on Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. 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 research note on Wednesday, March 12th. Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays lowered their target price on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.

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.

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