Eaton Co. plc (NYSE:ETN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 908,204 shares of the industrial products company's stock after selling 14,829 shares during the period. PNC Financial Services Group Inc. owned approximately 0.23% of Eaton worth $301,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% during the 3rd 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 during the last quarter. Proficio Capital Partners LLC increased its holdings in Eaton by 42,255.3% in 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. Janus Henderson Group PLC increased its holdings in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in 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 valued at $193,421,000 after purchasing an additional 429,701 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Eaton in the 3rd quarter valued at approximately $137,794,000. Institutional investors and hedge funds own 82.97% of the company's stock.

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Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Eaton Stock Up 2.8 %

Shares of Eaton stock traded up $7.74 during trading on Friday, hitting $285.29. 4,533,919 shares of the stock were exchanged, compared to its average volume of 3,707,284. The stock has a market cap of $111.83 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm's 50-day moving average price is $321.13 and its 200 day moving average price is $331.96. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. 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 released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 quarter in the previous year, the company posted $2.55 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be 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 1.46%. The ex-dividend date of this dividend is Monday, March 10th. Eaton's dividend payout ratio (DPR) is currently 43.79%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ETN shares. Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday, January 13th. Royal Bank of Canada dropped their target price on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday. Melius Research reiterated a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Bank of America lifted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, 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. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $362.58.

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.