Mutual of America Capital Management LLC Sells 1,681 Shares of Eaton Co. plc (NYSE:ETN)

Mutual of America Capital Management LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 3.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 47,351 shares of the industrial products company’s stock after selling 1,681 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Eaton were worth $15,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Wetzel Investment Advisors Inc. increased its holdings in Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the period. Westmount Partners LLC grew its position in shares of Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the last quarter. Signal Advisors Wealth LLC increased its stake in shares of Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after buying an additional 30 shares during the period. Lantz Financial LLC raised its position in shares of Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 30 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 32 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of a number of recent analyst reports. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Evercore ISI lowered their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Finally, UBS Group began coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $366.05.

Eaton Stock Performance

Shares of ETN stock opened at $293.21 on Friday. 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 firm has a fifty day simple moving average of $326.90 and a two-hundred day simple moving average of $332.29. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a market capitalization of $115.88 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 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 quarter in the prior year, the firm earned $2.55 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 39.58%.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

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.