EFG Asset Management North America Corp. Lowers Stock Holdings in Eaton Co. plc (NYSE:ETN)

EFG Asset Management North America Corp. lessened its holdings in Eaton Co. plc (NYSE:ETN) by 10.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,019 shares of the industrial products company’s stock after selling 1,154 shares during the period. EFG Asset Management North America Corp.’s holdings in Eaton were worth $3,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ETN. B. Riley Wealth Advisors Inc. raised its stake in Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. purchased a new stake in Eaton during the 4th quarter valued at approximately $297,000. Webster Bank N. A. raised its position in shares of Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after buying an additional 6,166 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after buying an additional 790 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 1,694 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Shares of Eaton stock opened at $303.41 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $310.56 and its two-hundred day moving average is $331.79. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a market capitalization of $118.87 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its 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 prior year, the company posted $2.55 EPS. As a group, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.37%. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ETN. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Royal Bank of Canada reduced their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target 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.