FIL Ltd Grows Stake in Eaton Co. plc (NYSE:ETN)

FIL Ltd increased its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 210.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,086 shares of the industrial products company's stock after purchasing an additional 64,434 shares during the period. FIL Ltd's holdings in Eaton were worth $31,556,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the fourth quarter valued at about $30,000. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new stake in shares of Eaton in the third quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Eaton during the fourth quarter valued at approximately $33,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays decreased their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Melius Research reiterated a "hold" rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group reduced their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. StockNews.com upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Citigroup decreased their price objective on Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $350.22.

Remove Ads

Eaton Trading Down 0.3 %

Shares of NYSE ETN traded down $0.80 during trading hours on Tuesday, reaching $277.03. The stock had a trading volume of 1,807,630 shares, compared to its average volume of 2,620,462. The business's fifty day moving average price is $288.60 and its two-hundred day moving average price is $326.82. The firm has a market cap of $108.53 billion, a price-to-earnings ratio of 29.16, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last posted 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business posted $2.55 EPS. Analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. This is a positive change from Eaton's previous quarterly dividend of $0.94. 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.