Wellington Management Group LLP Sells 1,336 Shares of Eaton Co. plc (NYSE:ETN)

Wellington Management Group LLP lessened its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,721 shares of the industrial products company's stock after selling 1,336 shares during the quarter. Wellington Management Group LLP's holdings in Eaton were worth $8,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Eaton by 6.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 68,369 shares of the industrial products company's stock worth $22,690,000 after acquiring an additional 4,123 shares during the period. United Bank grew its stake in shares of Eaton by 225.2% in the 4th quarter. United Bank now owns 2,527 shares of the industrial products company's stock valued at $839,000 after purchasing an additional 1,750 shares during the period. Physician Wealth Advisors Inc. acquired a new position in shares of Eaton in the 4th quarter worth approximately $88,000. CIBC Private Wealth Group LLC lifted its position in shares of Eaton by 19.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 32,716 shares of the industrial products company's stock worth $11,291,000 after buying an additional 5,314 shares during the period. Finally, Joseph Group Capital Management grew its position in Eaton by 8.8% in the fourth quarter. Joseph Group Capital Management now owns 13,977 shares of the industrial products company's stock valued at $4,639,000 after acquiring an additional 1,128 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 0.0 %

Shares of NYSE:ETN traded down $0.11 during mid-day trading on Tuesday, reaching $277.72. The stock had a trading volume of 534,882 shares, compared to its average volume of 2,614,061. The firm has a 50 day simple moving average of $288.60 and a two-hundred day simple moving average of $326.82. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The firm has a market cap of $108.80 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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 (EPS) for the quarter, beating 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 period last year, the business posted $2.55 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. Eaton's payout ratio is currently 43.79%.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. Jefferies Financial Group reduced their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Barclays cut their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Citigroup cut their price objective on Eaton from $396.00 to $323.00 and set a "buy" rating for the company in a research report on Monday. Evercore ISI decreased their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price target on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.