Cahaba Wealth Management Inc. Has $235,000 Stake in Eaton Co. plc (NYSE:ETN)

Cahaba Wealth Management Inc. reduced its stake in Eaton Co. plc (NYSE:ETNFree Report) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 975 shares of the industrial products company’s stock after selling 165 shares during the period. Cahaba Wealth Management Inc.’s holdings in Eaton were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ETN. Stonegate Investment Group LLC increased its position in shares of Eaton by 7.6% in the fourth quarter. Stonegate Investment Group LLC now owns 4,903 shares of the industrial products company’s stock worth $1,181,000 after purchasing an additional 348 shares during the period. FAS Wealth Partners Inc. increased its holdings in Eaton by 17.0% in the 4th quarter. FAS Wealth Partners Inc. now owns 13,451 shares of the industrial products company’s stock valued at $3,239,000 after buying an additional 1,959 shares during the period. Welch Group LLC raised its position in shares of Eaton by 9.5% in the 4th quarter. Welch Group LLC now owns 2,805 shares of the industrial products company’s stock valued at $676,000 after buying an additional 244 shares in the last quarter. Princeton Global Asset Management LLC lifted its holdings in shares of Eaton by 2.5% during the 4th quarter. Princeton Global Asset Management LLC now owns 18,768 shares of the industrial products company’s stock worth $4,520,000 after acquiring an additional 457 shares during the period. Finally, Drive Wealth Management LLC boosted its position in shares of Eaton by 3.3% during the 4th quarter. Drive Wealth Management LLC now owns 1,513 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 49 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their target price on Eaton from $220.00 to $257.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. Berenberg Bank lifted their target price on Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group increased their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada raised their target price on shares of Eaton from $246.00 to $286.00 and gave the company a “sector perform” rating in a research report on Thursday, March 14th. Finally, Evercore ISI upped their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and twelve 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 $281.73.

View Our Latest Stock Report on Eaton

Eaton Stock Performance

NYSE:ETN traded up $2.98 on Tuesday, reaching $315.01. 2,773,134 shares of the company’s stock were exchanged, compared to its average volume of 1,782,023. The firm has a market cap of $125.85 billion, a price-to-earnings ratio of 39.25, a P/E/G ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The stock has a fifty day simple moving average of $284.53 and a 200-day simple moving average of $245.06. Eaton Co. plc has a 52 week low of $155.38 and a 52 week high of $317.02.

Eaton (NYSE:ETNGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the firm earned $2.06 EPS. Eaton’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Eaton Co. plc will post 10.25 earnings per share for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were given a $0.94 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.86. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, March 8th. Eaton’s dividend payout ratio (DPR) is 46.88%.

Insider Buying and Selling

In related news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Olivier Leonetti sold 4,461 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,969 shares of company stock valued at $10,904,774. Company insiders own 0.33% of the company’s stock.

About Eaton

(Free Report)

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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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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