Groupama Asset Managment Has $2.39 Million Holdings in Eaton Co. plc (NYSE:ETN)

Groupama Asset Managment decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 24.0% in the fourth quarter, Holdings Channel reports. The fund owned 7,191 shares of the industrial products company’s stock after selling 2,272 shares during the period. Groupama Asset Managment’s holdings in Eaton were worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN grew its stake 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 worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in Eaton during the third quarter worth $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the 4th quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. StockNews.com downgraded Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays reduced their target price on Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton Stock Performance

NYSE ETN opened at $276.77 on Wednesday. The firm has a market cap of $108.43 billion, a price-to-earnings ratio of 29.13, a PEG 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. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a 50 day moving average of $302.79 and a 200-day moving average of $331.23.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the business 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 was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 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.