Retirement Planning Co of New England Inc. Sells 75 Shares of Eaton Co. plc (NYSE:ETN)

Retirement Planning Co of New England Inc. cut its holdings in Eaton Co. plc (NYSE:ETN) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,437 shares of the industrial products company’s stock after selling 75 shares during the period. Eaton makes up 1.5% of Retirement Planning Co of New England Inc.’s portfolio, making the stock its 12th largest position. Retirement Planning Co of New England Inc.’s holdings in Eaton were worth $3,132,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in Eaton in the 4th quarter worth $30,000. Groupama Asset Managment grew its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Finally, Morse Asset Management Inc bought a new position in shares of Eaton during the third quarter valued at about $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Trading Up 1.3 %

Eaton stock opened at $297.31 on Tuesday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a market capitalization of $116.54 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The business’s fifty day simple moving average is $315.29 and its two-hundred day simple moving average is $331.78. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business posted $2.55 EPS. As a group, equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a report on Wednesday, March 12th. Evercore ISI decreased their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report 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 report on Wednesday, January 15th. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton 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.