Eaton Co. plc (NYSE:ETN) Position Trimmed by Quantbot Technologies LP

Quantbot Technologies LP reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 83.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,335 shares of the industrial products company’s stock after selling 16,319 shares during the quarter. Quantbot Technologies LP’s holdings in Eaton were worth $1,107,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in Eaton in the fourth quarter valued at about $30,000. Groupama Asset Managment increased its position in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETN has been the topic of several recent research reports. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Barclays decreased their price objective on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company cut their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, StockNews.com downgraded Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $357.68.

Eaton Stock Performance

NYSE:ETN opened at $300.11 on Wednesday. The firm’s 50-day moving average is $309.76 and its 200-day moving average is $331.90. The company has a market cap of $117.57 billion, a price-to-earnings ratio of 31.59, a PEG 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. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results 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 quarter last year, the business earned $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.39%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Eaton 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.