Brown Advisory Inc. decreased its stake in shares of Eaton Co., PLC (NYSE:ETN) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,558 shares of the industrial products company’s stock after selling 3,968 shares during the period. Brown Advisory Inc.’s holdings in Eaton were worth $3,362,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Jarislowsky Fraser Ltd purchased a new position in shares of Eaton during the third quarter valued at approximately $252,000. Oakbrook Investments LLC purchased a new position in Eaton in the fourth quarter worth $1,620,000. Argent Capital Management LLC boosted its position in Eaton by 15.0% in the third quarter. Argent Capital Management LLC now owns 257,804 shares of the industrial products company’s stock worth $19,797,000 after purchasing an additional 33,566 shares during the last quarter. Atlantic Trust Group LLC boosted its position in Eaton by 39.4% in the third quarter. Atlantic Trust Group LLC now owns 55,814 shares of the industrial products company’s stock worth $4,287,000 after purchasing an additional 15,761 shares during the last quarter. Finally, First Financial Bank Trust Division purchased a new position in Eaton in the fourth quarter worth $2,576,000. 74.74% of the stock is currently owned by institutional investors.
Shares of Eaton Co., PLC (NYSE ETN) opened at $80.70 on Thursday. The stock has a market capitalization of $36,110.00, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 1.13. Eaton Co., PLC has a one year low of $69.82 and a one year high of $89.85.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Monday, March 12th will be paid a $0.66 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a dividend yield of 3.27%. Eaton’s payout ratio is presently 35.93%.
In related news, insider Ken D. Semelsberger sold 15,595 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $82.67, for a total transaction of $1,289,238.65. Following the sale, the insider now directly owns 104,613 shares in the company, valued at approximately $8,648,356.71. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Curtis J. Hutchins sold 14,360 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $78.36, for a total value of $1,125,249.60. Following the sale, the insider now owns 26,596 shares in the company, valued at $2,084,062.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,029 shares of company stock worth $3,195,143. Corporate insiders own 0.80% of the company’s stock.
Several research analysts have weighed in on the company. Jefferies Group reissued a “hold” rating and issued a $90.00 price objective on shares of Eaton in a research report on Friday, February 2nd. ValuEngine raised Eaton from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Eaton from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Barclays assumed coverage on Eaton in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $90.00 price objective on the stock. Finally, UBS Group assumed coverage on Eaton in a research report on Tuesday, January 23rd. They issued a “neutral” rating and a $87.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $87.57.
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Eaton Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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