Quantbot Technologies LP Sells 16,319 Shares of Eaton Co. plc (NYSE:ETN)

Quantbot Technologies LP lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 83.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,335 shares of the industrial products company’s stock after selling 16,319 shares during the quarter. Quantbot Technologies LP’s holdings in Eaton were worth $1,107,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ETN. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in Eaton during the 4th quarter valued at $30,000. Groupama Asset Managment raised its position in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in shares of Eaton in the third quarter valued at $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ETN. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Citigroup lowered their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada reduced their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company lowered their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Trading Down 0.9 %

ETN opened at $300.11 on Wednesday. The firm’s fifty day moving average is $309.76 and its two-hundred day moving average is $331.90. The firm has a market cap of $117.57 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 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.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 quarter last year, the firm earned $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is 43.79%.

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.