Eaton Co. plc (NYSE:ETN) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lessened its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 94.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,300 shares of the industrial products company's stock after selling 24,297 shares during the quarter. Marshall Wace LLP's holdings in Eaton were worth $431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in Eaton in the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the 4th quarter valued at approximately $30,000. Horizon Bancorp Inc. IN grew its stake 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 acquiring an additional 74 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Eaton in the 4th quarter worth $33,000. Finally, Activest Wealth Management raised its position in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Price Performance

NYSE:ETN opened at $299.58 on Friday. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The stock's fifty day moving average is $281.21 and its two-hundred day moving average is $321.62. The company has a market capitalization of $117.37 billion, a P/E ratio of 31.53, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results 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. The company had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.40 earnings per share. Equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio (DPR) is 43.79%.

Analysts Set New Price Targets

A number of analysts have recently commented on ETN shares. Wells Fargo & Company cut their target price on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Citigroup reduced their target price on Eaton from $396.00 to $323.00 and set a "buy" rating for the company in a report on Monday, April 14th. KeyCorp lowered their price target on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada lowered their target price on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eaton currently has an average rating of "Moderate Buy" and an average target price of $354.63.

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.

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