Carbahal Olsen Financial Services Group LLC purchased a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,587 shares of the industrial products company's stock, valued at approximately $527,000. Eaton accounts for 0.5% of Carbahal Olsen Financial Services Group LLC's holdings, making the stock its 14th largest position.
Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Eaton in the 4th quarter worth approximately $1,495,582,000. Capital International Investors acquired a new position in Eaton during the 4th quarter worth $523,541,000. Proficio Capital Partners LLC grew its stake in shares of Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Eaton by 390.7% during 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 purchasing an additional 429,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Eaton by 3,508.4% in 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 purchasing an additional 390,595 shares during the period. Institutional investors own 82.97% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Citigroup lowered their price objective on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Melius Research restated a "hold" rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada cut their price objective 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 investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $350.22.
Read Our Latest Analysis on ETN
Eaton Stock Performance
Shares of NYSE ETN traded up $10.86 during trading hours on Thursday, hitting $286.52. 1,572,948 shares of the stock were exchanged, compared to its average volume of 3,721,817. The firm has a market capitalization of $112.25 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company's 50 day moving average is $282.46 and its 200 day moving average is $323.96.
Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 period last year, the company posted $2.55 EPS. On average, research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.45%. Eaton's payout ratio is 43.79%.
About Eaton
(
Free Report)
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.
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