Curi RMB Capital LLC Reduces Position in Eaton Co. plc (NYSE:ETN)

Curi RMB Capital LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,131 shares of the industrial products company's stock after selling 1,249 shares during the period. Curi RMB Capital LLC's holdings in Eaton were worth $1,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ETN. B. Riley Wealth Advisors Inc. grew its position in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after purchasing an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. bought a new stake in shares of Eaton during the 4th quarter worth $297,000. Webster Bank N. A. grew its position in Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after buying an additional 6,166 shares during the period. Ballentine Partners LLC raised its position in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after acquiring an additional 790 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Eaton by 13.2% during the 4th 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.

Eaton Stock Up 0.7 %

Eaton stock traded up $1.89 during trading hours on Friday, hitting $288.91. The stock had a trading volume of 2,177,022 shares, compared to its average volume of 2,628,250. The stock's 50-day moving average price is $282.03 and its 200-day moving average price is $323.63. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. 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 stock has a market capitalization of $113.19 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 prior year, the company earned $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. Eaton's payout ratio is 43.79%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ETN shares. Barclays cut their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a report on Tuesday, January 28th. Jefferies Financial Group dropped their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Royal Bank of Canada decreased their price target on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Finally, StockNews.com cut shares of Eaton from a "buy" rating to a "hold" rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $350.22.

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.