Kovitz Investment Group Partners LLC Sells 12,125 Shares of Eaton Co. plc (NYSE:ETN)

Kovitz Investment Group Partners LLC cut its position in Eaton Co. plc (NYSE:ETN - Free Report) by 27.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,434 shares of the industrial products company's stock after selling 12,125 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Eaton were worth $10,764,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ETN. Wetzel Investment Advisors Inc. increased its position in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock worth $1,029,000 after buying an additional 28 shares during the period. Westmount Partners LLC grew its position in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock worth $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC raised its position in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after buying an additional 30 shares during the last quarter. Lantz Financial LLC increased its stake in Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after acquiring an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock worth $544,000 after acquiring an additional 32 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

ETN stock opened at $288.91 on Friday. The business's fifty day moving average is $281.54 and its 200-day moving average is $323.31. The company has a market cap of $113.19 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99.

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, beating 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 prior year, the business posted $2.55 EPS. Equities research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 43.79%.

Analysts Set New Price Targets

ETN has been the topic of several analyst reports. Royal Bank of Canada lowered their price target on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. StockNews.com cut Eaton from a "buy" rating to a "hold" rating in a report on Tuesday. Citigroup dropped their price objective on Eaton from $396.00 to $323.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays cut their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Finally, Melius Research reissued a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $350.22.

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.

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