Eaton Co. plc (NYSE:ETN) Shares Sold by Lansdowne Partners UK LLP

Lansdowne Partners UK LLP lessened its position in shares of Eaton Co. plc (NYSE:ETN) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,454 shares of the industrial products company’s stock after selling 7,533 shares during the period. Eaton comprises 2.0% of Lansdowne Partners UK LLP’s holdings, making the stock its 10th largest position. Lansdowne Partners UK LLP’s holdings in Eaton were worth $27,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new stake in Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $277.13 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a market cap of $108.57 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock’s 50 day simple moving average is $289.36 and its 200-day simple moving average is $327.22.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the business earned $2.55 earnings per share. As a group, equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, March 10th. Eaton’s payout ratio is currently 43.79%.

Analyst Ratings Changes

ETN has been the subject of several recent research reports. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays lowered their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Friday, April 4th. 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. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada cut their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average price target of $355.06.

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.