Eaton Co. plc (NYSE:ETN) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 180,111 shares of the industrial products company’s stock after selling 2,385 shares during the quarter. Corient Private Wealth LLC’s holdings in Eaton were worth $59,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. United Bank acquired a new position in Eaton in the 3rd quarter worth approximately $258,000. GSA Capital Partners LLP purchased a new stake in shares of Eaton in the 3rd quarter valued at $295,000. OneDigital Investment Advisors LLC increased its stake in shares of Eaton by 4.4% in the third quarter. OneDigital Investment Advisors LLC now owns 7,309 shares of the industrial products company’s stock worth $2,422,000 after acquiring an additional 305 shares during the period. Impax Asset Management Group plc purchased a new position in shares of Eaton during the third quarter worth $2,347,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Eaton during the third quarter valued at $229,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the topic of several analyst reports. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays lowered their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price for the company in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $357.68.

Eaton Price Performance

Shares of Eaton stock opened at $294.53 on Monday. The stock has a market capitalization of $115.45 billion, a P/E ratio of 31.00, a PEG ratio of 2.64 and a beta of 1.09. The business has a 50 day simple moving average of $316.31 and a two-hundred day simple moving average of $331.81. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. 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 posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 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 prior year, the company posted $2.55 earnings per share. As a group, analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared 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 of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. Eaton’s payout ratio is presently 43.79%.

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.