Aware Super Pty Ltd as trustee of Aware Super Takes $3.67 Million Position in Eaton Co. plc (NYSE:ETN)

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,046 shares of the industrial products company's stock, valued at approximately $3,666,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Eaton during the 4th quarter worth about $1,495,582,000. Proficio Capital Partners LLC grew its stake in Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after buying an additional 730,594 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of 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 worth $193,421,000 after acquiring an additional 429,701 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock valued at $133,321,000 after acquiring an additional 390,595 shares during the period. Finally, APG Asset Management N.V. boosted its position in Eaton by 607.7% during the 4th quarter. APG Asset Management N.V. now owns 412,788 shares of the industrial products company's stock worth $132,295,000 after purchasing an additional 354,459 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Melius Research reissued a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. KeyCorp dropped their target price on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Evercore ISI decreased their price target on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group dropped their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Finally, StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average target price of $350.22.

Eaton Stock Performance

ETN stock traded down $1.01 during trading on Friday, hitting $268.15. 2,539,573 shares of the company's stock traded hands, compared to its average volume of 2,631,204. The stock has a market capitalization of $105.05 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The stock has a fifty day moving average price of $284.95 and a two-hundred day moving average price of $325.21. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

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 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 earnings per share. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $1.04 dividend. This is an increase from Eaton's previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.55%. Eaton's dividend payout ratio (DPR) is 43.79%.

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.