Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 279 Shares of Eaton Co. plc (NYSE:ETN)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 39.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 428 shares of the industrial products company’s stock after selling 279 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Eaton were worth $105,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Eaton by 0.5% during the third quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after buying an additional 176,900 shares during the last quarter. FMR LLC raised its stake in Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after buying an additional 5,270,331 shares during the last quarter. Northern Trust Corp raised its stake in Eaton by 2.2% during the third quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after buying an additional 109,775 shares during the last quarter. Raymond James & Associates raised its stake in Eaton by 3.8% during the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after buying an additional 138,465 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Eaton by 97.5% in the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after purchasing an additional 918,422 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $312.90 on Wednesday. The company’s 50 day moving average is $302.20 and its 200-day moving average is $256.66. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm has a market cap of $125.00 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.07.

Eaton (NYSE:ETN) last posted 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 business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. Eaton’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 EPS. Sell-side analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.20%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Berenberg Bank lifted their price target on shares of Eaton from $200.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. UBS Group lifted their price objective on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Wolfe Research restated an “underperform” rating and set a $312.00 price target on shares of Eaton in a report on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $295.60.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares in the company, valued at $8,116,427.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction on Monday, March 11th. The shares were 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 $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares in the company, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock valued at $10,904,774 in the last quarter. Insiders own 0.33% of the company’s stock.

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.