EFG Asset Management North America Corp. Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

EFG Asset Management North America Corp. lowered its position in Eaton Co. plc (NYSE:ETN) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,019 shares of the industrial products company’s stock after selling 1,154 shares during the period. EFG Asset Management North America Corp.’s holdings in Eaton were worth $3,326,000 as of its most recent SEC filing.

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

Eaton Stock Up 2.7 %

Shares of ETN opened at $303.41 on Tuesday. The stock has a 50 day moving average price of $310.56 and a 200 day moving average price of $331.79. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $118.87 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its 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 quarter last year, the business earned $2.55 earnings per share. Equities research 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Barclays lowered their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $357.68.

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.