Fox Run Management L.L.C. Decreases Position in Eaton Co. plc (NYSE:ETN)

Fox Run Management L.L.C. lowered its position in Eaton Co. plc (NYSE:ETN) by 61.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 715 shares of the industrial products company’s stock after selling 1,162 shares during the period. Fox Run Management L.L.C.’s holdings in Eaton were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ETN. B. Riley Wealth Advisors Inc. raised its position in Eaton by 48.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. acquired a new position in shares of Eaton during the 4th quarter worth approximately $297,000. Webster Bank N. A. grew its holdings in Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after buying an additional 6,166 shares during the last quarter. Ballentine Partners LLC increased its position in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after buying an additional 790 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after acquiring an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

ETN opened at $281.04 on Friday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a 50 day moving average of $307.35 and a two-hundred day moving average of $331.22. The company has a market cap of $110.10 billion, a P/E ratio of 29.58, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 quarter in the previous year, the business posted $2.55 earnings per share. On average, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.48%. Eaton’s payout ratio is 43.79%.

Analyst Ratings Changes

A number of analysts recently commented on ETN shares. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Finally, Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $357.16.

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.