Eaton Co. plc (NYSE:ETN) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its position in Eaton Co. plc (NYSE:ETN) by 93.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 618 shares of the industrial products company’s stock after selling 8,349 shares during the quarter. Cinctive Capital Management LP’s holdings in Eaton were worth $205,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ETN. Norges Bank purchased a new stake in shares of Eaton during the fourth quarter worth approximately $1,495,582,000. Proficio Capital Partners LLC grew its holdings in shares of Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after buying an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Eaton by 390.7% in the fourth 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 buying an additional 429,701 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after buying an additional 390,595 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Eaton by 13.3% during the fourth quarter. Franklin Resources Inc. now owns 2,744,691 shares of the industrial products company’s stock worth $910,881,000 after acquiring an additional 323,065 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of ETN opened at $260.74 on Friday. The company has a market cap of $102.15 billion, a P/E ratio of 27.45, a PEG 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. 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 firm’s 50 day moving average price is $298.88 and its 200 day moving average price is $330.42.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 return on equity of 22.62% and a net margin of 15.25%. During the same period in the previous year, the company earned $2.55 EPS. On average, research 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 announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.60%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ETN shares. Barclays decreased their target price on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a report on Wednesday, March 12th. Finally, Evercore ISI reduced their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus target price of $357.16.

About Eaton

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.