Eaton Co. plc (NYSE:ETN) Position Decreased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its holdings in Eaton Co. plc (NYSE:ETN – Get Rating) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,783 shares of the industrial products company’s stock after selling 1,380 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Eaton were worth $14,506,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Carolinas Wealth Consulting LLC lifted its position in shares of Eaton by 4,183.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 11,136 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 10,876 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Eaton by 0.7% during the third quarter. M&T Bank Corp now owns 170,423 shares of the industrial products company’s stock valued at $22,728,000 after purchasing an additional 1,267 shares during the last quarter. Keebeck Alpha LP boosted its position in shares of Eaton by 21.1% in the 3rd quarter. Keebeck Alpha LP now owns 2,632 shares of the industrial products company’s stock valued at $351,000 after purchasing an additional 458 shares during the period. BTR Capital Management Inc. increased its stake in Eaton by 7.3% in the 3rd quarter. BTR Capital Management Inc. now owns 26,147 shares of the industrial products company’s stock worth $3,487,000 after purchasing an additional 1,769 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Eaton by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,074,148 shares of the industrial products company’s stock worth $276,608,000 after buying an additional 6,963 shares during the period. 80.19% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Down 2.6 %

Shares of NYSE ETN opened at $160.15 on Friday. The business has a 50 day simple moving average of $167.27 and a 200 day simple moving average of $155.97. Eaton Co. plc has a 52 week low of $122.50 and a 52 week high of $178.75. The stock has a market cap of $63.74 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.89 and a beta of 1.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.84 and a current ratio of 1.38.

Eaton (NYSE:ETN – Get Rating) last posted its earnings results on Wednesday, February 8th. The industrial products company reported $2.06 EPS for the quarter, topping the consensus estimate of $2.05 by $0.01. The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.34 billion. Eaton had a net margin of 11.86% and a return on equity of 18.31%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 earnings per share. On average, research analysts predict that Eaton Co. plc will post 8.24 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Monday, March 6th will be issued a dividend of $0.86 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.81. This represents a $3.44 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, March 3rd. Eaton’s dividend payout ratio (DPR) is 55.94%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ETN shares. Royal Bank of Canada lifted their target price on shares of Eaton from $149.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 9th. StockNews.com started coverage on shares of Eaton in a research note on Thursday. They set a “strong-buy” rating on the stock. Morgan Stanley raised their target price on Eaton from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. Mizuho upped their price target on Eaton from $160.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, January 13th. Finally, Wells Fargo & Company raised their price objective on Eaton from $169.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insiders Place Their Bets

In other news, insider Brian S. Brickhouse sold 21,347 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $176.97, for a total transaction of $3,777,778.59. Following the transaction, the insider now owns 15,905 shares of the company’s stock, valued at approximately $2,814,707.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Joao V. Faria sold 5,204 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $174.55, for a total transaction of $908,358.20. Following the completion of the sale, the insider now directly owns 76,314 shares of the company’s stock, valued at approximately $13,320,608.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian S. Brickhouse sold 21,347 shares of Eaton stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $176.97, for a total transaction of $3,777,778.59. Following the completion of the transaction, the insider now owns 15,905 shares in the company, valued at approximately $2,814,707.85. The disclosure for this sale can be found here. Insiders sold 33,377 shares of company stock valued at $5,864,193 over the last quarter. Insiders own 0.56% of the company’s stock.

Eaton Profile

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Eaton Corp. Plc is a power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: Electrical Americas and Electrical Global, Aerospace, Vehicle, and eMobility. The Electrical Americas and Electrical Global segments engage in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service.