Philadelphia Trust Co. Trims Position in Eaton Co. plc (NYSE:ETN)

Philadelphia Trust Co. lessened its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 60.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,094 shares of the industrial products company's stock after selling 1,646 shares during the quarter. Philadelphia Trust Co.'s holdings in Eaton were worth $363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Eaton in the 4th quarter worth approximately $1,495,582,000. Proficio Capital Partners LLC raised its position in Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock valued at $243,036,000 after purchasing an additional 730,594 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Eaton by 390.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company's stock worth $193,421,000 after buying an additional 429,701 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock valued at $133,321,000 after buying an additional 390,595 shares during the period. Finally, APG Asset Management N.V. raised its holdings in shares of Eaton by 607.7% during the fourth quarter. APG Asset Management N.V. now owns 412,788 shares of the industrial products company's stock valued at $132,295,000 after acquiring an additional 354,459 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ETN. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a research report on Monday. KeyCorp dropped their target price on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada dropped their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Citigroup cut their price target on Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Melius Research restated a "hold" rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.22.

Eaton Trading Down 0.4 %

Shares of NYSE:ETN traded down $1.01 during trading on Friday, reaching $268.15. 2,539,573 shares of the company were exchanged, compared to its average volume of 2,629,939. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The firm has a market capitalization of $105.05 billion, a PE ratio of 28.23, a P/E/G ratio of 2.64 and a beta of 1.09. The business's fifty day simple moving average is $285.92 and its 200-day simple moving average is $325.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

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 for the quarter, topping 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 period in the previous year, the firm posted $2.55 earnings per share. On average, research analysts anticipate 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 was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a dividend of $1.04 per share. This is a positive change from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Monday, March 10th. Eaton's payout ratio is 43.79%.

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.