Eaton Co. plc (NYSE:ETN) Stock Holdings Reduced by DDD Partners LLC

DDD Partners LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,200 shares of the industrial products company’s stock after selling 463 shares during the period. Eaton makes up about 2.9% of DDD Partners LLC’s portfolio, making the stock its 10th largest position. DDD Partners LLC’s holdings in Eaton were worth $21,481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RB Capital Management LLC lifted its stake in shares of Eaton by 3.5% in the 1st quarter. RB Capital Management LLC now owns 2,759 shares of the industrial products company’s stock valued at $419,000 after purchasing an additional 94 shares during the period. Canada Pension Plan Investment Board raised its position in Eaton by 74.8% during the first quarter. Canada Pension Plan Investment Board now owns 101,412 shares of the industrial products company’s stock worth $15,390,000 after acquiring an additional 43,381 shares during the period. Baird Financial Group Inc. raised its position in Eaton by 0.6% during the first quarter. Baird Financial Group Inc. now owns 374,204 shares of the industrial products company’s stock worth $56,790,000 after acquiring an additional 2,057 shares during the period. Mather Group LLC. raised its position in Eaton by 9.1% during the first quarter. Mather Group LLC. now owns 2,682 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 223 shares during the period. Finally, Ergoteles LLC acquired a new position in Eaton during the first quarter worth $1,188,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 0.8 %

Shares of Eaton stock opened at $314.63 on Thursday. Eaton Co. plc has a 52-week low of $155.38 and a 52-week high of $317.02. The company has a 50 day moving average of $278.80 and a 200 day moving average of $242.64. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $125.69 billion, a P/E ratio of 39.23, a P/E/G ratio of 2.59 and a beta of 1.07.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company earned $2.06 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts forecast that Eaton Co. plc will post 10.25 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 11th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, March 8th. This represents a $3.76 dividend on an annualized basis and a yield of 1.20%. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ETN. Citigroup upped their price objective on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Evercore ISI upped their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Mizuho upped their target price on shares of Eaton from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Berenberg Bank upped their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Bank of America upped their target price on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.20.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eaton news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by corporate insiders.

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.