TIAA Trust National Association Has $30.15 Million Stake in Eaton Co. plc (NYSE:ETN)

TIAA Trust National Association lowered its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,836 shares of the industrial products company's stock after selling 1,073 shares during the quarter. TIAA Trust National Association's holdings in Eaton were worth $30,146,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the 4th quarter worth about $27,000. Noble Wealth Management PBC bought a new position in Eaton during the fourth quarter valued at about $30,000. Groupama Asset Managment raised its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter valued at approximately $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of ETN stock traded down $6.94 during trading hours on Friday, reaching $273.97. 2,048,013 shares of the company were exchanged, compared to its average volume of 3,699,501. The stock's fifty day moving average is $307.35 and its two-hundred day moving average is $331.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $107.33 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

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Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 business earned $2.55 earnings per share. Sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's payout ratio is currently 43.79%.

Analysts Set New Price Targets

Several brokerages recently commented on ETN. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Jefferies Financial Group dropped their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. KeyCorp upgraded Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price objective on the stock in a research note on Wednesday, March 12th. Finally, StockNews.com lowered Eaton from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Eight equities research 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $357.16.

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.