Eaton Co. plc (NYSE:ETN) Holdings Cut by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in Eaton Co. plc (NYSE:ETN - Free Report) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,242 shares of the industrial products company's stock after selling 9,394 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of Eaton worth $93,494,000 at the end of the most recent reporting period.

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

Eaton Stock Up 0.4 %

Shares of NYSE:ETN traded up $1.29 during trading on Tuesday, hitting $289.03. The company's stock had a trading volume of 427,861 shares, compared to its average volume of 2,622,935. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock's 50-day moving average price is $281.12 and its two-hundred day moving average price is $322.74. 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 company has a market capitalization of $113.23 billion, a PE ratio of 30.40, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 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 company posted $2.55 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank of Canada decreased their price target on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. KeyCorp decreased their price target on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Melius Research reaffirmed a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. StockNews.com lowered shares of Eaton from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Evercore ISI lowered their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $350.22.

Eaton Company 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.