Angeles Investment Advisors LLC Trims Stock Holdings in Eaton Co. plc (NYSE:ETN)

Angeles Investment Advisors LLC trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 3.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,946 shares of the industrial products company’s stock after selling 68 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Eaton were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 in the last quarter. Proficio Capital Partners LLC boosted its holdings in Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after purchasing an additional 730,594 shares during the period. Janus Henderson Group PLC boosted its holdings in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Eaton by 390.7% in the 4th 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. boosted its holdings in 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 period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of NYSE ETN opened at $295.88 on Monday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $311.30 and its 200 day moving average is $331.67. The stock has a market cap of $115.92 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company posted $2.55 EPS. On average, sell-side analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a $1.04 dividend. 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%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s payout ratio is 43.79%.

Analyst Ratings Changes

Several research analysts have commented on ETN shares. Barclays cut their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a report on Tuesday, January 28th. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a report on Friday. Finally, Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.