Clean Energy Transition LLP lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 51.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,661 shares of the industrial products company's stock after acquiring an additional 38,344 shares during the quarter. Eaton makes up about 1.4% of Clean Energy Transition LLP's portfolio, making the stock its 7th biggest holding. Clean Energy Transition LLP's holdings in Eaton were worth $37,389,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Eaton during the fourth quarter worth $1,495,582,000. Proficio Capital Partners LLC grew its position in shares of Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased 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 purchasing an additional 429,701 shares during the period. Assenagon Asset Management S.A. boosted its stake 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 buying an additional 390,595 shares during the period. Finally, APG Asset Management N.V. grew its position in Eaton by 607.7% during the fourth quarter. APG Asset Management N.V. now owns 412,788 shares of the industrial products company's stock worth $132,295,000 after buying an additional 354,459 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on ETN shares. KeyCorp reduced 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. Melius Research reissued a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Monday. Citigroup decreased their price objective on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $350.22.
View Our Latest Report on ETN
Eaton Trading Down 0.3 %
Shares of ETN stock traded down $0.80 on Tuesday, hitting $277.03. The company had a trading volume of 2,215,951 shares, compared to its average volume of 2,620,469. The stock's 50-day moving average is $288.60 and its two-hundred day moving average is $326.82. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The firm has a market cap of $108.53 billion, a P/E ratio of 29.16, a P/E/G 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 (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 period in the prior year, the company posted $2.55 EPS. On average, equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.
Eaton Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. Eaton's dividend payout ratio (DPR) is 43.79%.
About Eaton
(
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.
Further Reading
Before you consider Eaton, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eaton wasn't on the list.
While Eaton currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
