Lbp Am Sa Has $23.67 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Lbp Am Sa trimmed its position in Eaton Co. plc (NYSE:ETN) by 24.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,311 shares of the industrial products company’s stock after selling 23,033 shares during the quarter. Lbp Am Sa’s holdings in Eaton were worth $23,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Bank bought a new stake in shares of Eaton during the 3rd quarter valued at $258,000. GSA Capital Partners LLP bought a new stake in shares of Eaton during the 3rd quarter valued at $295,000. MQS Management LLC bought a new stake in shares of Eaton during the 3rd quarter valued at $474,000. Cable Hill Partners LLC bought a new stake in shares of Eaton during the 3rd quarter valued at $211,000. Finally, Plato Investment Management Ltd lifted its position in shares of Eaton by 21.4% during the 3rd quarter. Plato Investment Management Ltd now owns 14,010 shares of the industrial products company’s stock valued at $4,639,000 after acquiring an additional 2,466 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ETN. Wells Fargo & Company cut their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Barclays cut their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. dropped their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, Evercore ISI dropped their price objective 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. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $356.20.

Eaton Trading Down 3.0 %

Shares of ETN stock opened at $283.16 on Friday. The stock has a market cap of $111.00 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.64 and a beta of 1.09. The stock has a 50-day moving average of $317.27 and a 200-day moving average of $331.31. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 period in the previous year, the business earned $2.55 earnings per share. On average, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm 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 dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.47%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Eaton 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.