Quadrant Capital Group LLC Reduces Stock Position in Eaton Co. plc (NYSE:ETN)

Quadrant Capital Group LLC decreased its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,088 shares of the industrial products company’s stock after selling 98 shares during the quarter. Quadrant Capital Group LLC’s holdings in Eaton were worth $1,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in Eaton during the fourth quarter worth about $30,000. Groupama Asset Managment boosted its holdings 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 last quarter. 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. Finally, Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ETN shares. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a report on Tuesday, January 28th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Barclays lowered their target price on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $356.68.

Eaton Stock Performance

Shares of ETN opened at $246.36 on Friday. The stock has a 50-day simple moving average of $296.43 and a 200-day simple moving average of $330.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 1 year low of $236.58 and a 1 year high of $379.99. The stock has a market capitalization of $96.52 billion, a PE ratio of 25.93, a PEG ratio of 2.64 and a beta of 1.09.

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 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 quarter in the previous year, the firm posted $2.55 earnings per share. On average, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given 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 1.69%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio is currently 43.79%.

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.