Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,632 Shares of Eaton Co. plc (NYSE:ETN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,031 shares of the industrial products company’s stock after selling 2,632 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Eaton were worth $27,887,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new position in Eaton in the fourth quarter worth $30,000. Groupama Asset Managment grew its stake in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in shares of Eaton in the 3rd quarter worth about $33,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 0.3 %

Shares of NYSE:ETN opened at $295.34 on Friday. The firm has a fifty day moving average price of $312.21 and a two-hundred day moving average price of $331.15. The company has a market cap of $115.71 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.64 and a beta of 1.09. 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 one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the business earned $2.55 earnings per share. 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 will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Wall Street Analyst Weigh In

Several analysts have commented on ETN shares. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research report on Wednesday, March 12th. Barclays lowered their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company reduced their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Melius downgraded 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. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.68.

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.