Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Position in Eaton Co. plc (NYSE:ETN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 84,031 shares of the industrial products company’s stock after selling 2,632 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Eaton were worth $27,887,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. Proficio Capital Partners LLC raised its position in Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after purchasing an additional 730,594 shares during the period. Janus Henderson Group PLC lifted its stake in Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in Eaton by 390.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock valued at $193,421,000 after buying an additional 429,701 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after buying an additional 390,595 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ETN shares. Jefferies Financial Group dropped their target price on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada cut their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Melius Research reaffirmed a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Finally, Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton Stock Performance

Shares of Eaton stock opened at $295.34 on Friday. 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 $115.71 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.64 and a beta of 1.09. 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 business has a fifty day simple moving average of $312.21 and a two-hundred day simple moving average of $331.15.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. Eaton’s payout ratio is presently 43.79%.

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.