APG Asset Management N.V. Boosts Position in Eaton Co. plc (NYSE:ETN)

APG Asset Management N.V. boosted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 607.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 412,788 shares of the industrial products company's stock after acquiring an additional 354,459 shares during the quarter. APG Asset Management N.V. owned 0.10% of Eaton worth $132,295,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Eaton in the 4th quarter worth about $1,495,582,000. Proficio Capital Partners LLC grew its stake in Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after acquiring an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position 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 worth $193,421,000 after acquiring an additional 429,701 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of 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 valued at $133,321,000 after purchasing an additional 390,595 shares during the period. Finally, Franklin Resources Inc. grew 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 worth $910,881,000 after purchasing an additional 323,065 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

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Eaton Stock Up 2.4 %

NYSE ETN traded up $6.41 during trading on Friday, hitting $277.13. The company's stock had a trading volume of 3,833,121 shares, compared to its average volume of 2,620,567. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $108.57 billion, a PE ratio of 29.17, a P/E/G ratio of 2.64 and a beta of 1.09. The business's 50 day simple moving average is $289.36 and its 200-day simple moving average is $327.22.

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 for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the firm posted $2.55 EPS. On average, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on ETN. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday, January 13th. Royal Bank of Canada lowered their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Jefferies Financial Group cut their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Barclays reduced their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Finally, Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock 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.