May Hill Capital LLC Purchases New Holdings in Eaton Co. plc (NYSE:ETN)

May Hill Capital LLC purchased a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 954 shares of the industrial products company's stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Norges Bank bought a new stake in shares of Eaton during the fourth quarter valued at about $1,495,582,000. Proficio Capital Partners LLC grew its position in shares of Eaton by 42,255.3% during 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 purchasing an additional 730,594 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock worth $801,798,000 after purchasing an additional 597,700 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in 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 buying an additional 429,701 shares during the period. Finally, Assenagon Asset Management S.A. grew its position 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 buying an additional 390,595 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

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Eaton Price Performance

Shares of ETN traded down $23.10 during mid-day trading on Thursday, reaching $260.74. The stock had a trading volume of 5,551,734 shares, compared to its average volume of 2,563,747. The firm has a market cap of $102.15 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The business has a fifty day moving average of $301.05 and a 200 day moving average of $330.91. 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 - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 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 period in the previous year, the firm posted $2.55 EPS. Equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.60%. This is a boost from Eaton's previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. Eaton's dividend payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ETN shares. StockNews.com cut shares of Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. KeyCorp upgraded shares of Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price objective on the stock in a research report on Wednesday, March 12th. Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Melius Research restated a "hold" rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $357.16.

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.