Dimensional Fund Advisors LP Sells 25,566 Shares of Eaton Co. plc (NYSE:ETN)

Dimensional Fund Advisors LP lowered its holdings in Eaton Co. plc (NYSE:ETN) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,347,860 shares of the industrial products company’s stock after selling 25,566 shares during the quarter. Dimensional Fund Advisors LP owned 0.34% of Eaton worth $447,337,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC bought a new position in Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new stake in Eaton in the 4th quarter worth $30,000. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% during the 4th 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 period. Morse Asset Management Inc acquired a new position in shares of Eaton during the third quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the fourth quarter valued at about $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Shares of ETN opened at $268.15 on Friday. The stock has a 50-day moving average of $284.95 and a 200-day moving average of $325.22. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $105.05 billion, a PE ratio of 28.23, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 in the prior year, the business earned $2.55 earnings per share. On average, equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Barclays lowered their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Friday, April 4th. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Evercore ISI cut their target price 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. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average target price of $350.22.

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.