Eaton Co. plc (NYSE:ETN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in Eaton Co. plc (NYSE:ETN - Free Report) by 6.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 689,260 shares of the industrial products company's stock after selling 47,045 shares during the period. California Public Employees Retirement System owned 0.17% of Eaton worth $228,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. boosted its stake in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after buying an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. purchased a new position in shares of Eaton during the 4th quarter worth $297,000. Webster Bank N. A. boosted its position in shares of Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after acquiring an additional 6,166 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock valued at $3,072,000 after purchasing an additional 790 shares during the period. Finally, Blue Trust Inc. increased its position in Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after purchasing an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. StockNews.com lowered shares of Eaton from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Wells Fargo & Company lowered their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Melius Research reiterated a "hold" rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Finally, KeyCorp upgraded shares of Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price objective on the stock in a report on Wednesday, March 12th. Eight equities 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, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $356.68.

Eaton Stock Down 5.6 %

NYSE ETN traded down $14.49 during trading hours on Friday, hitting $246.36. 5,286,875 shares of the company were exchanged, compared to its average volume of 2,571,046. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market cap of $96.52 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.64 and a beta of 1.09. The company has a 50 day moving average of $296.43 and a two-hundred day moving average of $330.00. Eaton Co. plc has a 52-week low of $236.69 and a 52-week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given 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 1.69%. The ex-dividend date was Monday, March 10th. Eaton's payout ratio is 43.79%.

Eaton 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.