Lbp Am Sa Sells 23,033 Shares of Eaton Co. plc (NYSE:ETN)

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

A number of other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the last quarter. Franklin Resources Inc. increased its holdings in Eaton by 15.1% in the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after purchasing an additional 316,830 shares during the last quarter. Janus Henderson Group PLC lifted its stake in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eaton by 253.2% during the 3rd 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 buying an additional 1,629,856 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Eaton by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company’s stock worth $748,555,000 after buying an additional 37,138 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Down 3.0 %

ETN stock opened at $283.16 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $111.00 billion, a PE ratio of 29.81, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The business’s 50 day simple moving average is $317.27 and its 200 day simple moving average is $331.31.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 quarter last year, the firm posted $2.55 EPS. As a group, research analysts anticipate that Eaton Co. plc will post 12.02 EPS 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 issued a dividend of $1.04 per share. The ex-dividend date of this dividend 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 dividend yield of 1.47%. Eaton’s payout ratio is presently 43.79%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays decreased 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. Evercore ISI decreased 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. Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.20.

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.