Swiss National Bank Sells 62,100 Shares of Eaton Co. plc (NYSE:ETN)

Swiss National Bank reduced its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,124,600 shares of the industrial products company's stock after selling 62,100 shares during the quarter. Swiss National Bank owned approximately 0.28% of Eaton worth $373,221,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Eaton by 253.2% in 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 valued at $753,590,000 after buying an additional 1,629,856 shares during the period. Proficio Capital Partners LLC increased 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 period. Janus Henderson Group PLC raised its holdings in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock worth $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted 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 purchasing an additional 429,701 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Eaton during the third quarter worth $137,794,000. Institutional investors own 82.97% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ETN shares. Wells Fargo & Company dropped their target price on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Melius Research reiterated a "hold" rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $356.20.

Eaton Price Performance

NYSE:ETN traded down $8.88 during trading hours on Thursday, hitting $283.16. 5,609,350 shares of the company's stock traded hands, compared to its average volume of 2,380,560. The firm has a market cap of $111.00 billion, a P/E ratio of 29.81, a P/E/G 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. The business's fifty day simple moving average is $317.27 and its two-hundred day simple moving average is $331.31. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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 company posted $2.55 earnings per share. On average, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, March 10th. Eaton's dividend payout ratio (DPR) is presently 43.79%.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares of the company's stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.53% of the company's stock.

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.