MML Investors Services LLC decreased its holdings in shares of Eaton Co., PLC (NYSE:ETN) by 6.9% during the 4th quarter, HoldingsChannel reports. The firm owned 13,373 shares of the industrial products company’s stock after selling 986 shares during the quarter. MML Investors Services LLC’s holdings in Eaton were worth $1,057,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in ETN. Nationwide Fund Advisors boosted its position in shares of Eaton by 3.0% during the 3rd quarter. Nationwide Fund Advisors now owns 466,338 shares of the industrial products company’s stock valued at $35,810,000 after purchasing an additional 13,419 shares in the last quarter. Jarislowsky Fraser Ltd bought a new stake in shares of Eaton during the 3rd quarter valued at about $252,000. Rhumbline Advisers boosted its position in shares of Eaton by 0.4% during the 3rd quarter. Rhumbline Advisers now owns 779,539 shares of the industrial products company’s stock valued at $59,861,000 after purchasing an additional 3,338 shares in the last quarter. Lowe Brockenbrough & Co. Inc. boosted its position in shares of Eaton by 14.7% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 90,697 shares of the industrial products company’s stock valued at $6,965,000 after purchasing an additional 11,655 shares in the last quarter. Finally, Edge Advisors LLC boosted its position in shares of Eaton by 8.1% during the 3rd quarter. Edge Advisors LLC now owns 133,978 shares of the industrial products company’s stock valued at $10,287,000 after purchasing an additional 10,085 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.
Shares of Eaton Co., PLC (ETN) opened at $81.28 on Wednesday. The company has a market capitalization of $35,889.51, a P/E ratio of 12.17, a PEG ratio of 1.96 and a beta of 1.36. Eaton Co., PLC has a 52 week low of $69.82 and a 52 week high of $89.85. The company has a quick ratio of 1.13, a current ratio of 1.64 and a debt-to-equity ratio of 0.41.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Monday, March 12th will be paid a $0.66 dividend. The ex-dividend date is Friday, March 9th. This is an increase from Eaton’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a dividend yield of 3.25%. Eaton’s dividend payout ratio is 39.52%.
Several equities research analysts recently commented on ETN shares. Zacks Investment Research lowered Eaton from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. UBS Group initiated coverage on Eaton in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $87.00 price target on the stock. JPMorgan Chase & Co. upgraded Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 price target on the stock in a report on Thursday, March 1st. Robert W. Baird upgraded Eaton from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $82.00 to $92.00 in a report on Wednesday, January 3rd. Finally, Argus upgraded Eaton to a “buy” rating and increased their price target for the stock from $85.00 to $90.00 in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Eaton currently has a consensus rating of “Hold” and an average target price of $88.20.
In other news, insider Ken D. Semelsberger sold 15,595 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $82.67, for a total value of $1,289,238.65. Following the completion of the sale, the insider now directly owns 104,613 shares of the company’s stock, valued at $8,648,356.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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