Eaton Co. plc (NYSE:ETN) Holdings Lowered by Creegan & Nassoura Financial Group LLC

Creegan & Nassoura Financial Group LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,824 shares of the industrial products company’s stock after selling 170 shares during the period. Eaton accounts for approximately 3.8% of Creegan & Nassoura Financial Group LLC’s portfolio, making the stock its 5th biggest holding. Creegan & Nassoura Financial Group LLC’s holdings in Eaton were worth $5,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Eaton in the 4th quarter valued at about $1,495,582,000. Capital International Investors purchased a new stake in Eaton in the 4th quarter valued at approximately $523,541,000. Proficio Capital Partners LLC lifted its holdings in shares of Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after buying an additional 730,594 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of 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 buying an additional 429,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Eaton by 3,508.4% during 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 during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Eaton stock opened at $268.15 on Monday. The stock’s 50 day moving average price is $284.95 and its 200 day moving average price is $325.21. The firm has a market capitalization of $105.05 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 posted $2.55 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $1.04 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.55%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Evercore ISI reduced their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Monday, April 14th. Jefferies Financial Group reduced their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $350.22.

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.