Eaton Co. plc (NYSE:ETN) Stock Holdings Lessened by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,341 shares of the industrial products company's stock after selling 2,288 shares during the period. Atalanta Sosnoff Capital LLC's holdings in Eaton were worth $43,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ETN. Norges Bank bought a new position in shares of Eaton during the 4th quarter valued at approximately $1,495,582,000. Capital International Investors bought a new stake in Eaton during the fourth quarter valued at $523,541,000. Proficio Capital Partners LLC grew its holdings in shares of Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Eaton by 390.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company's stock worth $193,421,000 after purchasing an additional 429,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock valued at $133,321,000 after purchasing an additional 390,595 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research analyst reports. Barclays dropped their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $289.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. StockNews.com upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $361.13.

Eaton Trading Up 1.4 %

Shares of ETN stock traded up $4.20 on Wednesday, reaching $302.31. 1,888,401 shares of the stock were exchanged, compared to its average volume of 2,637,125. The stock has a market cap of $118.44 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. 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 firm has a 50 day moving average of $281.41 and a two-hundred day moving average of $320.94.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.40 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.38%. Eaton's dividend payout ratio (DPR) is presently 41.98%.

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.