WealthBridge Investment Counsel Inc. Has $10.67 Million Holdings in Eaton Co. plc (NYSE:ETN)

WealthBridge Investment Counsel Inc. reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 32,135 shares of the industrial products company’s stock after selling 500 shares during the period. Eaton makes up approximately 3.9% of WealthBridge Investment Counsel Inc.’s holdings, making the stock its 7th biggest holding. WealthBridge Investment Counsel Inc.’s holdings in Eaton were worth $10,665,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ETN. HB Wealth Management LLC lifted its holdings in shares of Eaton by 18.1% in the fourth quarter. HB Wealth Management LLC now owns 16,524 shares of the industrial products company’s stock valued at $5,485,000 after purchasing an additional 2,531 shares in the last quarter. Shelton Wealth Management LLC raised its position in Eaton by 3.5% in the 4th quarter. Shelton Wealth Management LLC now owns 2,967 shares of the industrial products company’s stock valued at $985,000 after buying an additional 100 shares during the last quarter. Sanibel Captiva Trust Company Inc. lifted its stake in Eaton by 6.0% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 5,006 shares of the industrial products company’s stock valued at $1,661,000 after acquiring an additional 285 shares in the last quarter. Spring Capital Management LLC boosted its position in Eaton by 2.5% during the 4th quarter. Spring Capital Management LLC now owns 32,212 shares of the industrial products company’s stock worth $10,690,000 after acquiring an additional 793 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in Eaton by 2.0% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock worth $544,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.4 %

ETN stock opened at $346.54 on Friday. Eaton Co. plc has a 1-year low of $236.20 and a 1-year high of $379.99. The business’s 50 day simple moving average is $354.32 and its 200 day simple moving average is $329.77. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $136.95 billion, a PE ratio of 36.87, a PEG ratio of 2.27 and a beta of 1.06.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 earnings per share. As a group, research analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ETN. Bank of America boosted their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group boosted their price target on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays lifted their target price on Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Mizuho increased their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $368.89.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 over the last quarter. Company insiders own 0.33% of the company’s stock.

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.