Schechter Investment Advisors LLC Sells 121 Shares of Eaton Co. plc (NYSE:ETN)

Schechter Investment Advisors LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,923 shares of the industrial products company’s stock after selling 121 shares during the period. Schechter Investment Advisors LLC’s holdings in Eaton were worth $1,186,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Red Spruce Capital LLC lifted its stake in Eaton by 0.3% during the 4th quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after acquiring an additional 45 shares in the last quarter. GSG Advisors LLC increased its position in shares of Eaton by 2.1% during the 4th quarter. GSG Advisors LLC now owns 2,227 shares of the industrial products company’s stock valued at $519,000 after purchasing an additional 46 shares during the last quarter. Global Trust Asset Management LLC increased its position in shares of Eaton by 33.3% during the 4th quarter. Global Trust Asset Management LLC now owns 200 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 50 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Eaton by 2.9% during the 3rd quarter. Proficio Capital Partners LLC now owns 1,836 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 51 shares during the last quarter. Finally, Heartland Bank & Trust Co increased its position in shares of Eaton by 1.5% during the 3rd quarter. Heartland Bank & Trust Co now owns 3,693 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 53 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

Shares of ETN opened at $314.63 on Thursday. The company has a market cap of $125.69 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 2.59 and a beta of 1.07. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $278.80 and a 200-day moving average price of $242.64. Eaton Co. plc has a 12-month low of $155.38 and a 12-month high of $317.02.

Eaton (NYSE:ETN) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. Eaton’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.06 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 10.25 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 11th will be given a $0.94 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a yield of 1.20%. Eaton’s payout ratio is presently 46.88%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction that occurred on 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 $171,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports 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 research report on Tuesday, December 19th. Mizuho lifted their price objective on Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Berenberg Bank lifted their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Evercore ISI lifted their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and a consensus price target of $274.20.

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.