Geode Capital Management LLC lifted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,198,412 shares of the industrial products company's stock after purchasing an additional 129,071 shares during the period. Geode Capital Management LLC owned 2.07% of Eaton worth $2,714,677,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. HighPoint Advisor Group LLC lifted its holdings in Eaton by 4.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 9,096 shares of the industrial products company's stock worth $2,879,000 after buying an additional 351 shares during the period. Franklin Resources Inc. lifted its stake in shares of 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 purchasing an additional 323,065 shares during the period. Summit Financial LLC boosted its position in shares of Eaton by 113.4% during the fourth quarter. Summit Financial LLC now owns 6,666 shares of the industrial products company's stock valued at $2,213,000 after purchasing an additional 3,543 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in Eaton by 364.4% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,508 shares of the industrial products company's stock worth $832,000 after purchasing an additional 1,968 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Eaton by 210.8% during the fourth quarter. Meeder Asset Management Inc. now owns 202 shares of the industrial products company's stock valued at $67,000 after buying an additional 137 shares during the period. Institutional investors own 82.97% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on ETN shares. Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group lowered their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Wells Fargo & Company cut their price target on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. KeyCorp raised Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price objective for the company in a research report on Wednesday, March 12th. Finally, Melius Research reissued a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton has an average rating of "Moderate Buy" and a consensus price target of $357.16.
Check Out Our Latest Report on ETN
Eaton Stock Performance
Shares of ETN stock traded down $23.10 on Thursday, reaching $260.74. The stock had a trading volume of 5,551,734 shares, compared to its average volume of 2,563,747. 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 Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock has a market cap of $102.15 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a 50 day simple moving average of $301.05 and a 200 day simple moving average of $330.91.
Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 previous year, the business earned $2.55 EPS. Equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were given a $1.04 dividend. This is a boost 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 dividend on an annualized basis and a yield of 1.60%. Eaton's dividend payout ratio is presently 43.79%.
Eaton 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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