Eaton Co. plc (NYSE:ETN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 281,242 shares of the industrial products company's stock after selling 9,394 shares during the period. Hsbc Holdings PLC owned about 0.07% of Eaton worth $93,494,000 at the end of the most recent reporting period.

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

Eaton Trading Up 0.7 %

Shares of NYSE ETN traded up $1.89 during trading on Friday, hitting $288.91. 2,177,225 shares of the company traded hands, compared to its average volume of 2,630,169. 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 firm has a market capitalization of $113.19 billion, a P/E ratio of 30.41, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a 50-day moving average price of $281.54 and a 200-day moving average price of $323.21. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 quarter in the prior year, the firm posted $2.55 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ETN shares. 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. Jefferies Financial Group decreased their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Citigroup reduced their price target on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Melius Research reissued a "hold" rating and set a $373.00 price objective on shares of Eaton in a research note 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $350.22.

Eaton 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.