FMR LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,222,248 shares of the industrial products company's stock after acquiring an additional 182,455 shares during the quarter. FMR LLC owned approximately 3.85% of Eaton worth $5,051,807,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 99,291 shares in the last quarter. Geode Capital Management LLC raised 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 buying an additional 129,071 shares during the last quarter. Norges Bank bought a new stake in Eaton during the 4th quarter worth about $1,495,582,000. Franklin Resources Inc. increased its position in Eaton by 13.3% in the 4th quarter. Franklin Resources Inc. now owns 2,744,691 shares of the industrial products company's stock valued at $910,881,000 after acquiring an additional 323,065 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Eaton by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company's stock valued at $748,555,000 after acquiring an additional 37,138 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research report on Tuesday. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. KeyCorp lowered their price target on Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday. Melius Research reiterated a "hold" rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Finally, Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $355.06.
Get Our Latest Analysis on Eaton
Eaton Stock Up 1.6 %
NYSE ETN traded up $4.43 during trading hours on Friday, hitting $275.15. 1,622,791 shares of the company traded hands, compared to its average volume of 2,608,012. 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 business's 50-day moving average is $290.12 and its 200-day moving average is $327.58. The stock has a market capitalization of $107.79 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $2.55 earnings per share. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.
Eaton Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.51%. Eaton's payout ratio is currently 43.79%.
Eaton Company Profile
(
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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