California Public Employees Retirement System Has $228.75 Million Stock Position in Eaton Co. plc (NYSE:ETN)

California Public Employees Retirement System lessened its position in Eaton Co. plc (NYSE:ETN) by 6.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 689,260 shares of the industrial products company’s stock after selling 47,045 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Eaton worth $228,745,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Wetzel Investment Advisors Inc. boosted its stake in shares of Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the period. Westmount Partners LLC boosted its holdings in Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares in the last quarter. Signal Advisors Wealth LLC increased its position in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Lantz Financial LLC raised its holdings in Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 30 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in shares of Eaton by 2.0% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after purchasing an additional 32 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the subject of a number of research reports. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Royal Bank of Canada dropped their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $357.16.

Eaton Price Performance

ETN opened at $274.05 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $107.37 billion, a P/E ratio of 28.85, a P/E/G ratio of 2.64 and a beta of 1.09. The company’s 50-day simple moving average is $305.90 and its two-hundred day simple moving average is $331.66. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company earned $2.55 EPS. As a group, analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. Eaton’s dividend payout ratio is currently 43.79%.

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.