EFG Asset Management North America Corp. Sells 1,154 Shares of Eaton Co. plc (NYSE:ETN)

EFG Asset Management North America Corp. lowered its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,019 shares of the industrial products company's stock after selling 1,154 shares during the period. EFG Asset Management North America Corp.'s holdings in Eaton were worth $3,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Eaton by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock valued at $12,351,506,000 after acquiring an additional 99,291 shares during the period. Geode Capital Management LLC increased its holdings in shares of Eaton by 0.7% during the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company's stock worth $2,665,342,000 after purchasing an additional 56,516 shares during the period. Franklin Resources Inc. raised its position in shares of Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company's stock valued at $836,938,000 after buying an additional 316,830 shares in the last quarter. Janus Henderson Group PLC boosted its stake 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 buying an additional 597,700 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eaton by 253.2% during 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 worth $753,590,000 after buying an additional 1,629,856 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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Eaton Trading Down 2.6 %

Shares of NYSE:ETN traded down $7.20 during midday trading on Friday, reaching $273.72. The company's stock had a trading volume of 1,924,281 shares, compared to its average volume of 2,530,574. The firm has a 50 day moving average price of $307.35 and a two-hundred day moving average price of $331.22. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The firm has a market capitalization of $107.23 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 2.64 and a beta of 1.09. 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 posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts' consensus estimates 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 business earned $2.55 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton's dividend payout ratio is presently 43.79%.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. KeyCorp raised Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 target price on the stock in a report on Wednesday, March 12th. StockNews.com cut shares of Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Evercore ISI decreased their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Melius Research restated a "hold" rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Finally, Melius cut 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. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $357.16.

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.