AQR Capital Management LLC Trims Stock Position in Eaton Co. plc (NYSE:ETN)

AQR Capital Management LLC reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 439,594 shares of the industrial products company’s stock after selling 28,468 shares during the period. AQR Capital Management LLC owned 0.11% of Eaton worth $145,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. KeyCorp lowered their price objective on Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $350.22.

Eaton Trading Up 1.2 %

NYSE:ETN opened at $291.12 on Wednesday. The stock has a market cap of $114.05 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. 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 business’s 50-day simple moving average is $280.76 and its 200 day simple moving average is $322.52.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 period last year, the business posted $2.55 EPS. As a group, sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s payout ratio is currently 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.