Eaton Co. plc (NYSE:ETN) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC decreased its position in Eaton Co. plc (NYSE:ETN) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,182 shares of the industrial products company’s stock after selling 721 shares during the quarter. Cullen Capital Management LLC’s holdings in Eaton were worth $4,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gladstone Capital Management LLP acquired a new stake in Eaton during the fourth quarter worth approximately $73,189,000. KCM Investment Advisors LLC boosted its holdings in shares of Eaton by 0.4% during the fourth quarter. KCM Investment Advisors LLC now owns 18,102 shares of the industrial products company’s stock worth $6,007,000 after purchasing an additional 70 shares during the last quarter. Pioneer Trust Bank N A OR grew its position in shares of Eaton by 6.9% in the fourth quarter. Pioneer Trust Bank N A OR now owns 810 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 52 shares during the period. Smith Moore & CO. increased its stake in Eaton by 3.7% in the fourth quarter. Smith Moore & CO. now owns 9,065 shares of the industrial products company’s stock valued at $3,009,000 after purchasing an additional 327 shares during the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new position in Eaton during the fourth quarter worth about $1,809,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Price Performance

ETN opened at $246.36 on Friday. Eaton Co. plc has a twelve month low of $236.58 and a twelve month high of $379.99. The firm has a market cap of $96.52 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.64 and a beta of 1.09. 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 company has a fifty day simple moving average of $296.43 and a 200 day simple moving average of $330.00.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 business earned $2.55 EPS. Equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ETN. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Jefferies Financial Group dropped their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. 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 note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada lowered their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $356.68.

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.