Bank Julius Baer & Co. Ltd Zurich Has $920,000 Position in Eaton Co. plc (NYSE:ETN)

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 77.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,822 shares of the industrial products company’s stock after selling 12,946 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Eaton were worth $920,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Eaton by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after purchasing an additional 176,900 shares in the last quarter. FMR LLC increased its position in Eaton by 36.0% during the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after purchasing an additional 5,270,331 shares in the last quarter. Northern Trust Corp increased its position in Eaton by 2.2% during the 3rd quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after purchasing an additional 109,775 shares in the last quarter. Raymond James & Associates increased its position in Eaton by 3.8% during the 4th quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after purchasing an additional 138,465 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Eaton by 97.5% during the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after purchasing an additional 918,422 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Evercore ISI upped their price target on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Bank of America upped their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Citigroup upped their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $250.00 to $300.00 in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Eaton Stock Up 2.2 %

Shares of NYSE ETN opened at $324.17 on Friday. The firm has a market cap of $129.51 billion, a PE ratio of 40.42, a P/E/G ratio of 2.63 and a beta of 1.07. Eaton Co. plc has a 12-month low of $162.04 and a 12-month high of $331.47. The company’s fifty day simple moving average is $304.82 and its 200 day simple moving average is $258.28. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. Eaton’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 earnings per share. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.16%. Eaton’s payout ratio is 46.88%.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at $171,360. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Eaton news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares in the company, valued at approximately $171,360. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,969 shares of company stock worth $10,904,774. Insiders own 0.53% of the company’s stock.

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.