Operose Advisors LLC Sells 262 Shares of Eaton Co. plc (NYSE:ETN)

Operose Advisors LLC trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 31.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568 shares of the industrial products company’s stock after selling 262 shares during the quarter. Operose Advisors LLC’s holdings in Eaton were worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. United Capital Financial Advisors LLC boosted its position in Eaton by 0.4% during the 4th quarter. United Capital Financial Advisors LLC now owns 37,505 shares of the industrial products company’s stock valued at $12,447,000 after buying an additional 163 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of Eaton by 7.4% during the fourth quarter. Anchor Investment Management LLC now owns 1,265 shares of the industrial products company’s stock worth $420,000 after purchasing an additional 87 shares during the period. Bridgewater Associates LP bought a new stake in shares of Eaton in the fourth quarter worth about $13,652,000. Kane Investment Management Inc. purchased a new position in Eaton during the 4th quarter valued at about $1,118,000. Finally, Guggenheim Capital LLC lifted its holdings in Eaton by 4.8% in the 4th quarter. Guggenheim Capital LLC now owns 82,970 shares of the industrial products company’s stock worth $27,535,000 after buying an additional 3,783 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ETN. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a report on Monday. Wells Fargo & Company reduced their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. KeyCorp lowered their price objective on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $350.22.

Eaton Trading Down 0.2 %

Shares of NYSE:ETN opened at $277.05 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a market cap of $108.54 billion, a P/E ratio of 29.16, a PEG ratio of 2.64 and a beta of 1.09. The stock’s fifty day moving average price is $288.60 and its 200-day moving average price is $326.82.

Eaton (NYSE:ETN) last announced its quarterly 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the firm posted $2.55 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. 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.