Quantbot Technologies LP Sells 16,319 Shares of Eaton Co. plc (NYSE:ETN)

Quantbot Technologies LP lessened its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 83.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,335 shares of the industrial products company's stock after selling 16,319 shares during the quarter. Quantbot Technologies LP's holdings in Eaton were worth $1,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ETN. Geode Capital Management LLC lifted its stake in Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company's stock valued at $2,665,342,000 after purchasing an additional 56,516 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company's stock worth $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Eaton by 32.8% in 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 purchasing an additional 597,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 valued at $753,590,000 after purchasing an additional 1,629,856 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Eaton by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company's stock worth $748,555,000 after buying an additional 37,138 shares during the period. 82.97% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. KeyCorp upgraded Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price objective for the company in a report on Wednesday, March 12th. Evercore ISI dropped their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Melius Research reaffirmed a "hold" rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Citigroup reduced their price target 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, Royal Bank of Canada cut their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.16.

Eaton Trading Down 2.4 %

Shares of NYSE:ETN traded down $6.86 during midday trading on Friday, hitting $274.05. 3,254,157 shares of the stock were exchanged, compared to its average volume of 2,537,860. The business's 50-day moving average price is $305.90 and its 200 day moving average price is $331.42. The stock has a market capitalization of $107.37 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $255.65 and a 12 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.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company earned $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $1.04 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. This is an increase from Eaton's previous quarterly dividend of $0.94. Eaton's payout ratio is 43.79%.

About Eaton

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.