Baillie Gifford & Co. Lowers Holdings in Eaton Co. plc (NYSE:ETN)

Baillie Gifford & Co. decreased its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,816,135 shares of the industrial products company's stock after selling 83,627 shares during the period. Baillie Gifford & Co. owned 0.45% of Eaton worth $437,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. acquired a new stake in shares of Eaton in the second quarter valued at about $27,000. Valued Wealth Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter valued at about $35,000. Chilton Capital Management LLC bought a new stake in shares of Eaton during the 4th quarter valued at about $35,000. Global Trust Asset Management LLC bought a new stake in shares of Eaton during the 3rd quarter valued at about $32,000. Finally, Cornerstone Planning Group LLC bought a new stake in shares of Eaton during the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity

In other news, insider Heath B. Monesmith sold 13,027 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares of the company's stock, valued at approximately $20,244,140.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now owns 29,712 shares of the company's stock, valued at approximately $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares of the company's stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,969 shares of company stock valued at $10,904,774. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho raised their target price on Eaton from $300.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. The Goldman Sachs Group lifted their price target on Eaton from $287.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, March 15th. Evercore ISI lifted their price target on Eaton from $262.00 to $308.00 and gave the company an "outperform" rating in a research report on Tuesday, February 20th. Barclays upgraded Eaton from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. Finally, Wolfe Research reiterated an "underperform" rating and issued a $312.00 price target on shares of Eaton in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Eaton has an average rating of "Moderate Buy" and a consensus price target of $288.94.

Eaton Price Performance

ETN stock traded down $11.95 during mid-day trading on Tuesday, hitting $313.87. 3,964,766 shares of the stock were exchanged, compared to its average volume of 1,877,668. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The business has a fifty day moving average price of $293.55 and a 200 day moving average price of $249.53. Eaton Co. plc has a 12 month low of $155.38 and a 12 month high of $331.47. The stock has a market capitalization of $125.39 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.75 and a beta of 1.07.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. The company's revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Eaton Co. plc will post 10.25 EPS for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, March 8th. This is a positive change from Eaton's previous quarterly dividend of $0.86. Eaton's payout ratio is 46.88%.

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.