Headlands Technologies LLC Grows Position in Eaton Co. plc (NYSE:ETN)

Headlands Technologies LLC grew its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 52.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,003 shares of the industrial products company's stock after purchasing an additional 2,766 shares during the quarter. Headlands Technologies LLC's holdings in Eaton were worth $2,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ETN. Vanguard Group Inc. boosted its stake in Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after buying an additional 99,291 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after purchasing an additional 129,071 shares during the period. Norges Bank acquired a new stake in Eaton during the fourth quarter worth about $1,495,582,000. Franklin Resources Inc. raised its stake in Eaton by 13.3% during 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 during the period. Finally, Janus Henderson Group PLC boosted its holdings in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company's stock valued at $801,798,000 after purchasing an additional 597,700 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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Eaton Stock Performance

NYSE ETN traded down $23.10 during trading on Thursday, reaching $260.74. The company's stock had a trading volume of 5,551,734 shares, compared to its average volume of 2,563,747. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The firm has a market cap of $102.15 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 2.64 and a beta of 1.09. The business's fifty day moving average price is $301.05 and its 200-day moving average price is $330.91. 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 (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 company posted $2.55 earnings per share. As a group, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. This is an increase from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Monday, March 10th. Eaton's payout ratio is currently 43.79%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada reduced their price target on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. KeyCorp raised Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price target on the stock in a research note on Wednesday, March 12th. Wells Fargo & Company cut their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Barclays lowered their target price on shares of Eaton from $325.00 to $315.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and an average price target of $357.16.

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.