Advisory Services Network LLC Grows Position in Eaton Co. plc (NYSE:ETN)

Advisory Services Network LLC boosted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 24.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,976 shares of the industrial products company's stock after buying an additional 7,946 shares during the quarter. Advisory Services Network LLC's holdings in Eaton were worth $13,267,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in Eaton during the fourth quarter valued at about $1,495,582,000. Proficio Capital Partners LLC boosted its stake in 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 valued at $243,036,000 after acquiring an additional 730,594 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Eaton by 390.7% in 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 acquiring an additional 429,701 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Eaton by 3,508.4% during the 4th 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 last quarter. Finally, Franklin Resources Inc. lifted its stake in Eaton by 13.3% in the fourth quarter. Franklin Resources Inc. now owns 2,744,691 shares of the industrial products company's stock valued at $910,881,000 after purchasing an additional 323,065 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

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Eaton Price Performance

ETN traded up $6.41 during trading on Friday, reaching $277.13. The stock had a trading volume of 3,833,121 shares, compared to its average volume of 2,620,567. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business has a 50-day moving average of $289.36 and a 200-day moving average of $327.22. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The stock has a market cap of $108.57 billion, a PE ratio of 29.17, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter in the previous year, the business posted $2.55 EPS. As a group, equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. This is a positive change from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio (DPR) is currently 43.79%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Melius Research restated a "hold" rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. 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. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada dropped their price objective on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus price target of $355.06.

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.