Korea Investment CORP Sells 29,458 Shares of Eaton Co. plc (NYSE:ETN)

Korea Investment CORP lowered its holdings in shares of Eaton Co. plc (NYSE:ETN) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,721 shares of the industrial products company’s stock after selling 29,458 shares during the period. Korea Investment CORP owned about 0.08% of Eaton worth $100,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eaton by 253.2% during 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 worth $753,590,000 after purchasing an additional 1,629,856 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Eaton by 42,255.3% in the 4th 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. Janus Henderson Group PLC lifted its position in shares of Eaton by 32.8% during the 3rd 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. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Eaton by 390.7% in the 4th 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 in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in 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 valued at $133,321,000 after acquiring an additional 390,595 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Barclays dropped their price objective on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada cut their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton Trading Down 4.8 %

ETN opened at $285.60 on Thursday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The firm has a market cap of $111.89 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm’s fifty day moving average is $308.63 and its two-hundred day moving average is $331.57.

Eaton (NYSE:ETN) last posted its earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm earned $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is 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.