Keybank National Association OH Sells 2,899 Shares of Eaton Co. plc (NYSE:ETN)

Keybank National Association OH cut its stake in Eaton Co. plc (NYSE:ETN) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,932 shares of the industrial products company’s stock after selling 2,899 shares during the quarter. Keybank National Association OH owned 0.06% of Eaton worth $81,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ETN. Geode Capital Management LLC grew its stake in shares of Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after acquiring an additional 56,516 shares during the period. Franklin Resources Inc. grew its holdings in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after purchasing an additional 316,830 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eaton by 253.2% in the third 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 buying an additional 1,629,856 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Eaton by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company’s stock worth $748,555,000 after acquiring an additional 37,138 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ETN shares. Evercore ISI dropped their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. Citigroup dropped their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $364.65.

Eaton Stock Down 5.3 %

Shares of NYSE ETN opened at $277.71 on Tuesday. The company has a market cap of $109.75 billion, a P/E ratio of 29.23, a PEG ratio of 2.64 and a beta of 1.05. The firm has a 50-day simple moving average of $325.70 and a two-hundred day simple moving average of $332.62. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its earnings results 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 quarter in the previous year, the firm posted $2.55 EPS. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. Eaton’s payout ratio is 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.