Nomura Asset Management Co. Ltd. Sells 28,429 Shares of Eaton Co. plc (NYSE:ETN)

Nomura Asset Management Co. Ltd. cut its holdings in Eaton Co. plc (NYSE:ETN) by 14.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,742 shares of the industrial products company’s stock after selling 28,429 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Eaton were worth $55,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Norges Bank acquired a new position in Eaton in the 4th quarter worth about $1,495,582,000. Proficio Capital Partners LLC grew its holdings in shares of Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after purchasing an additional 730,594 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Eaton by 390.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock valued at $193,421,000 after buying an additional 429,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Eaton by 3,508.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after buying an additional 390,595 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays lowered their price objective on Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, Citigroup dropped their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Eight 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 has a consensus rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton Trading Down 2.4 %

NYSE ETN opened at $274.05 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The business has a 50 day moving average price of $305.90 and a 200-day moving average price of $331.12. 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 company has a market cap of $107.37 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 prior year, the business earned $2.55 EPS. As a group, equities analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

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