Qtron Investments LLC lifted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 28.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,421 shares of the industrial products company's stock after purchasing an additional 1,410 shares during the quarter. Qtron Investments LLC's holdings in Eaton were worth $2,131,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock valued at $12,351,506,000 after buying an additional 99,291 shares during the period. FMR LLC increased its stake in Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after acquiring an additional 182,455 shares during the last quarter. Geode Capital Management LLC raised its position in 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 position in shares of Eaton in the 4th quarter valued at $1,495,582,000. Finally, Franklin Resources Inc. grew its holdings in shares of Eaton by 13.3% during the 4th 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. Hedge funds and other institutional investors own 82.97% of the company's stock.
Analyst Ratings Changes
A number of research analysts have commented on ETN shares. Citigroup decreased their target price on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research report on Monday. Royal Bank of Canada lowered their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. KeyCorp lowered their price target on Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $350.22.
Get Our Latest Research Report on Eaton
Eaton Stock Performance
Eaton stock traded down $0.80 during midday trading on Tuesday, hitting $277.03. 2,216,233 shares of the company's stock were exchanged, compared to its average volume of 2,621,164. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market cap of $108.53 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The firm's 50 day simple moving average is $288.60 and its 200 day simple moving average is $326.82.
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. Equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a $1.04 dividend. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, March 10th. Eaton's dividend payout ratio (DPR) is currently 43.79%.
Eaton Company Profile
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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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