Itau Unibanco Holding S.A. Sells 5,168 Shares of Eaton Co. plc (NYSE:ETN)

Itau Unibanco Holding S.A. trimmed its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 43.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,681 shares of the industrial products company's stock after selling 5,168 shares during the quarter. Itau Unibanco Holding S.A.'s holdings in Eaton were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter valued at approximately $33,000. Bard Financial Services Inc. purchased a new stake in shares of Eaton during the third quarter worth about $255,000. Advisory Resource Group boosted its position in shares of Eaton by 10.9% during the third quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company's stock worth $1,444,000 after acquiring an additional 428 shares during the last quarter. Chelsea Counsel Co. lifted its position in shares of Eaton by 29.4% in the third quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company's stock worth $73,000 after buying an additional 50 shares in the last quarter. Finally, Tudor Financial Inc. bought a new stake in Eaton in the third quarter worth $265,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETN. Melius Research reiterated a "hold" rating and set a $373.00 target price on shares of Eaton 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. KeyCorp lifted their price objective on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday. Morgan Stanley decreased their price objective on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, Royal Bank of Canada increased their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $361.13.

Eaton Price Performance

Shares of NYSE ETN traded down $1.30 during mid-day trading on Tuesday, reaching $297.28. The company had a trading volume of 1,052,452 shares, compared to its average volume of 2,629,574. The company has a 50-day moving average price of $281.24 and a two-hundred day moving average price of $321.09. The stock has a market cap of $116.47 billion, a PE ratio of 31.25, a P/E/G ratio of 2.64 and a beta of 1.14. 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 Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.40%. Eaton's dividend payout ratio is 41.98%.

About Eaton

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.