Lansdowne Partners UK LLP cut its stake in shares of Eaton Co., PLC (NYSE:ETN) by 63.7% in the 4th quarter, Holdings Channel reports. The firm owned 92,943 shares of the industrial products company’s stock after selling 163,400 shares during the quarter. Eaton comprises approximately 0.1% of Lansdowne Partners UK LLP’s holdings, making the stock its 28th biggest position. Lansdowne Partners UK LLP’s holdings in Eaton were worth $7,343,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Jarislowsky Fraser Ltd bought a new position in shares of Eaton during the third quarter valued at approximately $252,000. Oakbrook Investments LLC bought a new position in Eaton in the 4th quarter worth approximately $1,620,000. Argent Capital Management LLC lifted 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 period. Atlantic Trust Group LLC lifted 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 period. Finally, First Financial Bank Trust Division acquired a new stake in Eaton in the fourth quarter worth approximately $2,576,000. 74.74% of the stock is owned by institutional investors.
Shares of Eaton Co., PLC (ETN) opened at $80.70 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41. Eaton Co., PLC has a fifty-two week low of $69.82 and a fifty-two week high of $89.85. The stock has a market cap of $36,110.00, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Monday, March 12th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.27%. This is a boost from Eaton’s previous quarterly dividend of $0.60. Eaton’s dividend payout ratio (DPR) is presently 35.93%.
A number of research firms have weighed in on ETN. JPMorgan Chase & Co. upgraded Eaton from an “underweight” rating to a “hold” rating and set a $82.00 target price for the company in a research report on Thursday. ValuEngine upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus restated a “hold” rating and issued a $80.00 target price on shares of Eaton in a research report on Monday, December 11th. Jefferies Group upped their target price on Eaton from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Finally, Barclays started coverage on Eaton in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $90.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $88.43.
In other news, insider Ken D. Semelsberger sold 15,595 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $82.67, for a total transaction of $1,289,238.65. Following the completion of the sale, the insider now owns 104,613 shares of the company’s stock, valued at $8,648,356.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nandakumar Cheruvatath sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $77.50, for a total transaction of $775,000.00. Following the sale, the insider now directly owns 16,571 shares of the company’s stock, valued at approximately $1,284,252.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,029 shares of company stock valued at $3,195,143. 0.80% of the stock is owned by corporate insiders.
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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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