Eaton Co. plc (NYSE:ETN) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its holdings in shares of Eaton Co. plc (NYSE:ETN) by 14.7% in the fourth quarter, Holdings Channel reports. The firm owned 19,585 shares of the industrial products company’s stock after selling 3,387 shares during the period. Intech Investment Management LLC’s holdings in Eaton were worth $6,500,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ETN. Geode Capital Management LLC increased its position in shares of Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after acquiring an additional 56,516 shares in the last quarter. Franklin Resources Inc. raised its position in Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares during the period. Janus Henderson Group PLC boosted its position in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Eaton by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company’s stock valued at $748,555,000 after buying an additional 37,138 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 2.2 %

ETN stock opened at $290.59 on Wednesday. The firm has a market cap of $113.91 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm has a fifty day moving average price of $314.23 and a two-hundred day moving average price of $331.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 quarter last year, the business earned $2.55 EPS. Research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given 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 1.43%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Evercore ISI decreased their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Barclays cut their price objective on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada lowered their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a research note on Wednesday, March 12th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $357.68.

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.