Winslow Capital Management LLC Sells 177,120 Shares of Eaton Co. plc (NYSE:ETN)

Winslow Capital Management LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,174,810 shares of the industrial products company's stock after selling 177,120 shares during the quarter. Eaton comprises 1.4% of Winslow Capital Management LLC's holdings, making the stock its 25th largest holding. Winslow Capital Management LLC owned 0.30% of Eaton worth $389,884,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. United Bank purchased a new stake in shares of Eaton during the third quarter valued at approximately $258,000. Morse Asset Management Inc bought a new position in Eaton during the third quarter valued at about $33,000. Wellington Management Group LLP raised its position in Eaton by 74.6% in the third quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company's stock worth $9,299,000 after acquiring an additional 11,992 shares during the period. Zacks Investment Management boosted its stake in Eaton by 84.4% in the third quarter. Zacks Investment Management now owns 6,516 shares of the industrial products company's stock valued at $2,160,000 after acquiring an additional 2,982 shares during the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of Eaton by 1.2% in the 3rd quarter. MML Investors Services LLC now owns 45,136 shares of the industrial products company's stock worth $14,960,000 after purchasing an additional 530 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ETN has been the subject of several recent research reports. KeyCorp decreased their price objective on Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. StockNews.com downgraded Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, Barclays lowered their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus target price of $355.06.

Eaton Trading Down 0.7 %

Shares of ETN stock traded down $2.07 during mid-day trading on Monday, reaching $275.46. The stock had a trading volume of 871,464 shares, compared to its average volume of 2,615,244. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The firm has a market capitalization of $107.92 billion, a PE ratio of 29.00, 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. The stock's 50-day moving average price is $289.36 and its two-hundred day moving average price is $327.18.

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

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a $1.04 dividend. 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 dividend yield of 1.51%. The ex-dividend date was Monday, March 10th. Eaton's dividend payout ratio is currently 43.79%.

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.