Catalyst Funds Management Pty Ltd Lowers Holdings in Eaton Co. plc (NYSE:ETN)

Catalyst Funds Management Pty Ltd reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 55.6% in the 4th quarter, Holdings Channel reports. The fund owned 1,600 shares of the industrial products company’s stock after selling 2,000 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Eaton were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Hills Bank & Trust Co increased its holdings in shares of Eaton by 85.9% during the 4th quarter. Hills Bank & Trust Co now owns 2,050 shares of the industrial products company’s stock valued at $680,000 after purchasing an additional 947 shares in the last quarter. Picton Mahoney Asset Management increased its holdings in Eaton by 20.4% in the fourth quarter. Picton Mahoney Asset Management now owns 46,382 shares of the industrial products company’s stock valued at $15,393,000 after buying an additional 7,858 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Eaton by 5.8% in the fourth quarter. Kestra Advisory Services LLC now owns 129,520 shares of the industrial products company’s stock worth $42,984,000 after acquiring an additional 7,103 shares during the period. Wellington Shields & Co. LLC boosted its stake in shares of Eaton by 17.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 3,997 shares of the industrial products company’s stock worth $1,327,000 after acquiring an additional 581 shares in the last quarter. Finally, Midwest Professional Planners LTD. grew its position in shares of Eaton by 2.4% during the 4th quarter. Midwest Professional Planners LTD. now owns 16,860 shares of the industrial products company’s stock valued at $5,595,000 after acquiring an additional 396 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Up 3.8 %

Shares of ETN opened at $294.53 on Friday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $316.31 and a two-hundred day simple moving average of $331.54. The company has a market capitalization of $115.45 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company earned $2.55 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. Eaton’s dividend payout ratio is currently 43.79%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ETN. Royal Bank of Canada lowered their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.68.

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.