Epoch Investment Partners Inc. Reduces Stock Position in Eaton Co. plc (NYSE:ETN)

Epoch Investment Partners Inc. lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 23.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,737 shares of the industrial products company’s stock after selling 76,232 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.06% of Eaton worth $78,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Tennessee Valley Asset Management Partners purchased a new stake in shares of Eaton during the 4th quarter worth about $25,000. LifeSteps Financial Inc. purchased a new stake in shares of Eaton during the 1st quarter worth about $25,000. Atwood & Palmer Inc. grew its holdings in shares of Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Clear Investment Research LLC purchased a new stake in shares of Eaton during the 4th quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Eaton during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total transaction of $801,725.44. Following the completion of the transaction, the insider now directly owns 5,086 shares in the company, valued at approximately $1,687,738.24. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ETN. JPMorgan Chase & Co. boosted their price target on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Argus boosted their price target on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Barclays boosted their price target on Eaton from $316.00 to $318.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. Finally, Raymond James began coverage on Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $323.06.

Eaton Stock Performance

Shares of NYSE ETN traded up $4.91 during trading on Friday, reaching $297.79. The stock had a trading volume of 3,090,006 shares, compared to its average volume of 2,170,230. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The stock has a market cap of $119.06 billion, a PE ratio of 35.16, a P/E/G ratio of 2.49 and a beta of 1.02. The firm’s 50 day moving average price is $322.30 and its two-hundred day moving average price is $303.69.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 EPS. On average, research analysts forecast that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a dividend of $0.94 per share. The ex-dividend date is Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.26%. Eaton’s payout ratio is currently 44.39%.

Eaton Company 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.