Mercer Global Advisors Inc. ADV cut its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 145,323 shares of the industrial products company's stock after selling 19,338 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Eaton were worth $48,228,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after acquiring an additional 99,291 shares during the period. FMR LLC grew its position in Eaton by 1.2% during the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after acquiring an additional 182,455 shares during the last quarter. Geode Capital Management LLC increased its holdings in Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after purchasing an additional 129,071 shares during the period. Northern Trust Corp boosted its position in Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after acquiring an additional 368,241 shares in the last quarter. Finally, Norges Bank purchased a new position in Eaton in the 4th quarter worth approximately $1,495,582,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Morgan Stanley lowered their target price on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research report on Tuesday. Citigroup upped their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research report on Monday. Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lifted their target price on Eaton from $289.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Royal Bank of Canada increased their price target on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $361.13.
Get Our Latest Stock Report on Eaton
Eaton Trading Down 0.4 %
ETN traded down $1.07 during trading on Tuesday, hitting $297.51. 1,052,452 shares of the stock were exchanged, compared to its average volume of 2,629,634. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The firm has a market cap of $116.55 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 2.64 and a beta of 1.14. The firm has a 50 day simple moving average of $281.24 and a 200 day simple moving average of $321.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.
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, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the previous year, the business posted $2.40 EPS. Eaton's revenue was up 7.3% on a year-over-year basis. As a group, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Announces Dividend
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. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a yield of 1.40%. Eaton's payout ratio is presently 41.98%.
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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