Viawealth LLC Sells 53 Shares of Eaton Co. plc (NYSE:ETN)

Viawealth LLC trimmed its position in shares of Eaton Co. plc (NYSE:ETN) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,993 shares of the industrial products company’s stock after selling 53 shares during the period. Viawealth LLC’s holdings in Eaton were worth $661,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 worth $753,590,000 after purchasing an additional 1,629,856 shares during the period. Proficio Capital Partners LLC raised its stake 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 valued at $243,036,000 after buying an additional 730,594 shares in the last quarter. Janus Henderson Group PLC lifted its holdings 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 acquiring an additional 597,700 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Eaton by 390.7% during 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 acquiring an additional 429,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake 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 and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 1.3 %

Shares of Eaton stock opened at $294.52 on Thursday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The business has a fifty day simple moving average of $313.21 and a 200 day simple moving average of $331.40. 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 stock has a market cap of $115.45 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

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

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 1.41%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Analysts Set New Price Targets

A number of research firms have weighed in on ETN. Royal Bank of Canada decreased their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company reduced their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a report on Wednesday, March 12th. Finally, Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price 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.