Standard Family Office LLC Has $40,000 Stake in Eaton Co. plc (NYSE:ETN)

Standard Family Office LLC reduced its stake in shares of Eaton Co. plc (NYSE:ETN) by 57.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 120 shares of the industrial products company’s stock after selling 160 shares during the quarter. Standard Family Office LLC’s holdings in Eaton were worth $40,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Eaton in the fourth quarter valued at approximately $1,495,582,000. Capital International Investors acquired a new stake in Eaton during the 4th quarter worth $523,541,000. Proficio Capital Partners LLC lifted its holdings in Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after acquiring an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in Eaton by 390.7% in the fourth 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 acquiring an additional 429,701 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after acquiring an additional 390,595 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

NYSE:ETN opened at $268.15 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 firm has a fifty day simple moving average of $284.95 and a 200 day simple moving average of $325.21. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The stock has a market capitalization 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 announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the firm posted $2.55 earnings per share. On average, research analysts expect 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 is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.55%. Eaton’s dividend payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ETN shares. KeyCorp lowered their target price on Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Citigroup cut their price objective on shares of Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a report on Monday, April 14th. Finally, Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus 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.