First Trust Advisors LP lessened its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 605,803 shares of the industrial products company's stock after selling 4,730 shares during the period. First Trust Advisors LP owned approximately 0.15% of Eaton worth $201,048,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. First Washington CORP purchased a new position in shares of Eaton during the fourth quarter worth about $3,957,000. Forum Financial Management LP raised its position in Eaton by 1.3% during the fourth quarter. Forum Financial Management LP now owns 4,095 shares of the industrial products company's stock valued at $1,359,000 after purchasing an additional 54 shares in the last quarter. Capital International Ltd. CA lifted its stake in Eaton by 6.3% during the fourth quarter. Capital International Ltd. CA now owns 14,643 shares of the industrial products company's stock worth $4,860,000 after purchasing an additional 862 shares during the last quarter. Capital International Investors bought a new position in shares of Eaton during the 4th quarter valued at about $523,541,000. Finally, Capital International Sarl raised its holdings in shares of Eaton by 8.7% during the 4th quarter. Capital International Sarl now owns 20,861 shares of the industrial products company's stock valued at $6,923,000 after buying an additional 1,663 shares in the last quarter. Institutional investors own 82.97% of the company's stock.
Analyst Ratings Changes
ETN has been the topic of several recent research reports. StockNews.com lowered shares of Eaton from a "buy" rating to a "hold" rating in a report on Tuesday. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. KeyCorp reduced their price target on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.
View Our Latest Report on Eaton
Eaton Stock Performance
ETN stock traded up $8.81 on Wednesday, hitting $275.72. The company had a trading volume of 3,148,784 shares, compared to its average volume of 2,633,749. The stock has a market cap of $108.02 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock's 50-day simple moving average is $283.13 and its 200 day simple moving average is $324.29. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 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 last year, the company posted $2.55 earnings per share. As a group, equities research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.
Eaton Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.51%. Eaton's dividend payout ratio (DPR) is presently 43.79%.
About Eaton
(
Free Report)
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.
See Also
Before you consider Eaton, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eaton wasn't on the list.
While Eaton currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
