Eaton Co. plc (NYSE:ETN) Stock Position Lowered by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC lessened its position in Eaton Co. plc (NYSE:ETN) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,249 shares of the industrial products company’s stock after selling 421 shares during the period. Freestone Capital Holdings LLC’s holdings in Eaton were worth $9,707,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after acquiring an additional 730,594 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Eaton during the 3rd quarter valued at approximately $137,794,000. Finally, Assenagon Asset Management S.A. boosted its stake 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 valued at $133,321,000 after purchasing an additional 390,595 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on ETN shares. Barclays reduced their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday. UBS Group initiated coverage on Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Citigroup decreased their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Bank of America raised their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $363.15.

Eaton Price Performance

NYSE:ETN opened at $287.85 on Thursday. 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’s 50-day simple moving average is $323.38 and its 200 day simple moving average is $332.18. The company has a market cap of $112.84 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $2.55 EPS. As a group, sell-side analysts forecast 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 given a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

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.