Brooklyn FI LLC bought a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,216 shares of the industrial products company's stock, valued at approximately $427,000.
Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company's stock worth $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings 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 valued at $243,036,000 after buying an additional 730,594 shares during the period. Janus Henderson Group PLC increased its position in shares of Eaton by 32.8% during 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 acquiring an additional 597,700 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings 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. Finally, Assenagon Asset Management S.A. lifted its position in 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 in the last quarter. 82.97% of the stock is currently owned by institutional investors.
Eaton Stock Performance
Shares of ETN stock traded up $7.97 during midday trading on Monday, hitting $303.41. 2,895,867 shares of the company were exchanged, compared to its average volume of 2,406,472. The firm has a market capitalization of $118.87 billion, a P/E ratio of 31.94, a PEG ratio of 2.64 and a beta of 1.09. 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 Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The firm's 50 day moving average price is $311.30 and its two-hundred day moving average price is $331.67.
Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 prior year, the business earned $2.55 EPS. As a group, equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.
Eaton Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio (DPR) is currently 43.79%.
Wall Street Analysts Forecast Growth
ETN has been the subject of a number of research reports. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Melius Research reiterated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. StockNews.com cut Eaton from a "buy" rating to a "hold" rating in a report on Friday. KeyCorp upgraded Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 target price on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased their price target on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $357.68.
Read Our Latest Research Report on ETN
Eaton Company Profile
(
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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