Royal London Asset Management Ltd. Acquires 3,072 Shares of Eaton Co. plc (NYSE:ETN)

Royal London Asset Management Ltd. raised its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,423 shares of the industrial products company's stock after purchasing an additional 3,072 shares during the period. Royal London Asset Management Ltd. owned approximately 0.05% of Eaton worth $65,851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. grew its position in Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after purchasing an additional 28 shares in the last quarter. Westmount Partners LLC grew its holdings in shares of Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock valued at $327,000 after acquiring an additional 30 shares in the last quarter. Signal Advisors Wealth LLC increased its position in shares of 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 acquiring an additional 30 shares during the last quarter. Lantz Financial LLC raised its holdings in Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock worth $219,000 after acquiring an additional 30 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in 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 valued at $544,000 after purchasing an additional 32 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada lowered their price target on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Barclays lowered their target price on shares of Eaton from $353.00 to $325.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Evercore ISI lowered their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Eaton has an average rating of "Moderate Buy" and a consensus price target of $357.68.

Eaton Stock Performance

Shares of ETN traded up $7.97 during mid-day trading on Monday, hitting $303.41. 2,895,867 shares of the company's stock were exchanged, compared to its average volume of 2,406,472. 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 Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The stock's 50-day simple moving average is $311.30 and its 200-day simple moving average is $331.67. The firm has a market cap of $118.87 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last posted 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm posted $2.55 EPS. On average, equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. This is a boost from Eaton's previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.37%. Eaton's dividend payout ratio is currently 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.