Gateway Investment Advisers LLC reduced its holdings in Eaton Co. plc (NYSE:ETN – Get Rating) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,184 shares of the industrial products company’s stock after selling 734 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Eaton were worth $30,987,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Investors Research Corp grew its position in shares of Eaton by 7.4% in the 1st quarter. Investors Research Corp now owns 3,650 shares of the industrial products company’s stock worth $554,000 after buying an additional 250 shares during the last quarter. Baldwin Brothers LLC MA grew its position in shares of Eaton by 63.0% in the 1st quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company’s stock worth $33,000 after buying an additional 85 shares during the last quarter. Coastal Investment Advisors Inc. grew its position in shares of Eaton by 5.6% in the 1st quarter. Coastal Investment Advisors Inc. now owns 4,191 shares of the industrial products company’s stock worth $636,000 after buying an additional 222 shares during the last quarter. Capital Investment Advisors LLC grew its position in shares of Eaton by 1.6% in the 1st quarter. Capital Investment Advisors LLC now owns 6,408 shares of the industrial products company’s stock worth $973,000 after buying an additional 99 shares during the last quarter. Finally, TIAA FSB grew its position in shares of Eaton by 3.3% in the 1st quarter. TIAA FSB now owns 105,819 shares of the industrial products company’s stock worth $16,023,000 after buying an additional 3,366 shares during the last quarter. Hedge funds and other institutional investors own 79.10% of the company’s stock.
NYSE:ETN traded down $0.64 during trading hours on Thursday, reaching $125.58. 18,706 shares of the company traded hands, compared to its average volume of 1,663,757. The stock has a market capitalization of $50.11 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.53 and a beta of 1.16. The business’s 50-day moving average price is $139.89 and its two-hundred day moving average price is $151.87. Eaton Co. plc has a 1 year low of $123.69 and a 1 year high of $175.72. The company has a current ratio of 0.99, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Friday, May 13th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, May 12th. Eaton’s payout ratio is 58.59%.
In other Eaton news, insider Boise April Miller sold 12,283 shares of Eaton stock in a transaction on Friday, May 27th. The stock was sold at an average price of $138.66, for a total value of $1,703,160.78. Following the completion of the sale, the insider now owns 11,435 shares of the company’s stock, valued at approximately $1,585,577.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.
A number of research analysts have recently commented on the company. Morgan Stanley lowered their target price on Eaton from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Tuesday, May 31st. StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Royal Bank of Canada raised their target price on Eaton from $153.00 to $156.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 2nd. Robert W. Baird raised their target price on Eaton from $150.00 to $155.00 in a research note on Tuesday, May 3rd. Finally, The Goldman Sachs Group lowered their target price on Eaton from $175.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $168.87.
Eaton Profile (Get Rating)
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.
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