Alyeska Investment Group L.P. Has $36.64 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Alyeska Investment Group L.P. trimmed its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 28.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,394 shares of the industrial products company's stock after selling 44,808 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Eaton were worth $36,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Alteri Wealth LLC purchased a new position in Eaton during the fourth quarter valued at $738,000. Anderson Financial Strategies LLC bought a new stake in Eaton in the 4th quarter worth approximately $430,000. Aptus Capital Advisors LLC lifted its holdings in Eaton by 23.2% in the fourth quarter. Aptus Capital Advisors LLC now owns 40,104 shares of the industrial products company's stock valued at $13,309,000 after acquiring an additional 7,542 shares during the period. Ardsley Advisory Partners LP bought a new stake in Eaton during the fourth quarter valued at approximately $1,659,000. Finally, AXA S.A. increased its holdings in Eaton by 14.2% in the 4th quarter. AXA S.A. now owns 619,773 shares of the industrial products company's stock worth $205,684,000 after acquiring an additional 77,089 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

Shares of ETN stock traded up $4.20 during trading hours on Wednesday, reaching $302.31. The stock had a trading volume of 1,888,780 shares, compared to its average volume of 2,640,503. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market capitalization of $118.44 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. The firm has a 50-day simple moving average of $281.41 and a 200-day simple moving average of $320.94.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the business earned $2.40 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio is currently 41.98%.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday. Royal Bank of Canada upped their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on Eaton from $289.00 to $300.00 and gave the stock an "overweight" rating in a research report on Tuesday. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Finally, Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $361.13.

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.