Eaton Co. plc (NYSE:ETN) Shares Sold by Lord Abbett & CO. LLC

by · The Markets Daily

Lord Abbett & CO. LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN – Free Report) by 13.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 536,251 shares of the industrial products company’s stock after selling 81,100 shares during the period. Lord Abbett & CO. LLC’s holdings in Eaton were worth $177,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ETN. Wetzel Investment Advisors Inc. raised its holdings in shares of Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 28 shares in the last quarter. Westmount Partners LLC increased its position in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC raised its stake in shares of Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares in the last quarter. Lantz Financial LLC lifted its holdings in shares of Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after buying an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in shares of Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after buying an additional 32 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of Eaton stock opened at $287.39 on Friday. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market cap of $112.59 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm’s 50-day simple moving average is $282.03 and its 200-day simple moving average is $323.63.

Eaton (NYSE:ETN – Get Free Report) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company posted $2.55 EPS. As a group, research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. KeyCorp decreased their price target on Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.22.

Read Our Latest Stock Report on ETN

Eaton Profile

(Free Report)

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.

Further Reading

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