Eaton Co. plc (NYSE:ETN) Holdings Decreased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,031 shares of the industrial products company's stock after selling 2,632 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Eaton were worth $27,887,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new position in Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton during the fourth quarter worth $30,000. Horizon Bancorp Inc. IN boosted its holdings in 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 purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in Eaton during the third quarter valued at $33,000. Finally, Activest Wealth Management raised its holdings in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ETN. JPMorgan Chase & Co. lowered their price objective 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. Evercore ISI lowered their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. StockNews.com lowered shares of Eaton from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Royal Bank of Canada cut their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $357.68.

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Eaton Price Performance

NYSE ETN traded down $2.73 on Tuesday, reaching $300.11. The company's stock had a trading volume of 3,393,961 shares, compared to its average volume of 2,406,297. The stock has a market cap of $117.57 billion, a PE ratio of 31.59, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 and a twelve month 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 firm's 50 day moving average is $310.56 and its two-hundred day moving average is $331.79.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 last year, the firm posted $2.55 earnings per share. As a group, sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company 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. The ex-dividend date of this dividend 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 yield of 1.39%. Eaton's dividend payout ratio is currently 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.