Groupama Asset Managment Decreases Stock Position in Eaton Co. plc (NYSE:ETN)

Groupama Asset Managment decreased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 24.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,191 shares of the industrial products company's stock after selling 2,272 shares during the period. Groupama Asset Managment's holdings in Eaton were worth $2,390,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in Eaton during the 4th quarter worth $30,000. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton in the 3rd quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ETN shares. Barclays reduced their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday. Jefferies Financial Group dropped their price objective 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. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Finally, Melius Research reaffirmed a "hold" rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $356.68.

Eaton Stock Down 5.6 %

NYSE ETN traded down $14.49 on Friday, hitting $246.36. 5,286,875 shares of the company were exchanged, compared to its average volume of 2,570,751. 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 has a fifty day moving average of $296.43 and a 200-day moving average of $330.13. The company has a market cap of $96.52 billion, a PE ratio of 25.93, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $236.58 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the business earned $2.55 EPS. As a group, analysts forecast 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. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.69%. This is a positive change from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton's dividend 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.