Bank of Montreal Can Has $166.25 Million Stake in Eaton Co. plc (NYSE:ETN)

Bank of Montreal Can increased its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,934 shares of the industrial products company's stock after acquiring an additional 4,990 shares during the period. Bank of Montreal Can owned approximately 0.13% of Eaton worth $166,245,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ETN. Wetzel Investment Advisors Inc. lifted its holdings in shares of Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock worth $1,029,000 after purchasing an additional 28 shares during the last quarter. Westmount Partners LLC increased its position in Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock worth $327,000 after buying an additional 30 shares during the period. Signal Advisors Wealth LLC lifted its stake in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after buying an additional 30 shares during the last quarter. Lantz Financial LLC boosted its holdings in shares of Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after acquiring an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock worth $544,000 after acquiring an additional 32 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Royal Bank of Canada lowered their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Jefferies Financial Group reduced their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Barclays lowered their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Finally, KeyCorp reduced their price objective on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $355.06.

Eaton Trading Up 2.4 %

NYSE ETN traded up $6.41 on Friday, hitting $277.13. 3,833,121 shares of the company were exchanged, compared to its average volume of 2,622,055. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company's 50 day moving average price is $289.36 and its 200-day moving average price is $327.18. The firm has a market capitalization of $108.57 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the firm posted $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

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

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.