Interchange Capital Partners LLC Trims Position in Eaton Co. plc (NYSE:ETN)

Interchange Capital Partners LLC lowered its position in Eaton Co. plc (NYSE:ETN) by 9.0% in the fourth quarter, HoldingsChannel reports. The firm owned 748 shares of the industrial products company’s stock after selling 74 shares during the period. Interchange Capital Partners LLC’s holdings in Eaton were worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the period. Proficio Capital Partners LLC grew its position in Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after acquiring an additional 730,594 shares during the period. Janus Henderson Group PLC increased its stake in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in Eaton by 390.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock valued at $193,421,000 after purchasing an additional 429,701 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after purchasing an additional 390,595 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Up 2.7 %

Shares of Eaton stock opened at $303.41 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a market capitalization of $118.87 billion, a P/E ratio of 31.94, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a 50 day moving average of $310.56 and a 200 day moving average of $331.79.

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 posted $2.55 earnings per share. As a group, research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is 43.79%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ETN. Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced 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. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $357.68.

Eaton Profile

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.