California State Teachers Retirement System lessened its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 628,540 shares of the industrial products company's stock after selling 14,964 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Eaton worth $208,594,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ETN. Wetzel Investment Advisors Inc. increased its position in shares of Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after buying an additional 28 shares during the period. Westmount Partners LLC boosted its stake in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock worth $327,000 after purchasing an additional 30 shares in the last quarter. Signal Advisors Wealth LLC increased its position in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after acquiring an additional 30 shares in the last quarter. Lantz Financial LLC lifted its holdings in shares of Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after purchasing an additional 30 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Eaton by 2.0% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock valued at $544,000 after acquiring an additional 32 shares during the period. Institutional investors own 82.97% of the company's stock.
Eaton Stock Up 2.6 %
Shares of ETN traded up $7.70 during midday trading on Thursday, reaching $302.07. 4,721,689 shares of the stock were exchanged, compared to its average volume of 2,621,037. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The company's 50 day moving average is $280.71 and its two-hundred day moving average is $322.32. The company has a market capitalization of $118.34 billion, a P/E ratio of 31.80, a PEG ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.
Eaton (NYSE:ETN - Get Free Report) last announced its 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 in the previous year, the firm posted $2.55 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share 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 given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's payout ratio is presently 43.79%.
Analyst Ratings Changes
A number of analysts recently commented on ETN shares. StockNews.com upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. KeyCorp dropped their target price on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. 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 report on Wednesday, March 12th. Finally, 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 report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and an average target price of $350.22.
View Our Latest Stock Analysis on ETN
About Eaton
(
Free Report)
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.
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