Epoch Investment Partners Inc. cut its position in Eaton Co. plc (NYSE:ETN – Get Rating) by 15.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 560,027 shares of the industrial products company’s stock after selling 101,470 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Eaton were worth $96,784,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of ETN. Bell Investment Advisors Inc acquired a new position in Eaton in the 3rd quarter valued at $27,000. Arlington Partners LLC acquired a new position in Eaton in the 4th quarter valued at $31,000. Blue Bell Private Wealth Management LLC acquired a new position in Eaton in the 4th quarter valued at $35,000. Eagle Bay Advisors LLC grew its stake in Eaton by 137.3% in the 3rd quarter. Eagle Bay Advisors LLC now owns 242 shares of the industrial products company’s stock valued at $36,000 after buying an additional 140 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in Eaton in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 79.10% of the company’s stock.
A number of analysts have weighed in on the stock. Credit Suisse Group reduced their price target on shares of Eaton from $187.00 to $179.00 in a report on Wednesday, May 4th. Robert W. Baird raised their price objective on shares of Eaton from $150.00 to $155.00 in a research report on Tuesday, May 3rd. Barclays lowered their price target on shares of Eaton from $155.00 to $145.00 in a research report on Wednesday, May 4th. William Blair reiterated a “market perform” rating on shares of Eaton in a research report on Thursday, March 3rd. Finally, Wells Fargo & Company lifted their price target on shares of Eaton from $149.00 to $159.00 in a research report on Wednesday, May 4th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $173.47.
Shares of ETN traded up $0.47 during trading hours on Thursday, reaching $136.99. The stock had a trading volume of 44,359 shares, compared to its average volume of 2,450,548. Eaton Co. plc has a 12 month low of $135.96 and a 12 month high of $175.72. The firm has a 50-day simple moving average of $147.50 and a 200 day simple moving average of $157.92. The company has a current ratio of 0.99, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $54.66 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 1.68 and a beta of 1.15.
Eaton (NYSE:ETN – Get Rating) last issued its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business earned $1.44 EPS. Eaton’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that Eaton Co. plc will post 7.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, May 12th. Eaton’s dividend payout ratio (DPR) is presently 58.59%.
Eaton Profile (Get Rating)
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.
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