Two Sigma Securities LLC Has $257,000 Position in Eaton Co. plc (NYSE:ETN)

Two Sigma Securities LLC reduced its holdings in shares of Eaton Co. plc (NYSE:ETN) by 88.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 773 shares of the industrial products company’s stock after selling 6,127 shares during the quarter. Two Sigma Securities LLC’s holdings in Eaton were worth $257,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Eaton in the 3rd quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the 4th quarter valued at about $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 1.2 %

NYSE:ETN opened at $291.12 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $114.05 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm’s 50 day moving average is $280.76 and its 200 day moving average is $322.52. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 firm posted $2.55 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s payout ratio is presently 43.79%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ETN. Evercore ISI reduced their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Barclays dropped their price target on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Friday, April 4th. Citigroup dropped their price target on shares of Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. KeyCorp dropped their price target on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and an average target price 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.