Gladstone Capital Management LLP Purchases Shares of 220,536 Eaton Co. plc (NYSE:ETN)

Gladstone Capital Management LLP purchased a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 220,536 shares of the industrial products company's stock, valued at approximately $73,189,000. Eaton comprises about 6.1% of Gladstone Capital Management LLP's investment portfolio, making the stock its 9th largest holding. Gladstone Capital Management LLP owned 0.06% of Eaton as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. United Bank bought a new stake in Eaton in the third quarter valued at approximately $258,000. Morse Asset Management Inc bought a new stake in Eaton in the 3rd quarter valued at $33,000. Royal London Asset Management Ltd. lifted its holdings in Eaton by 5.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 195,351 shares of the industrial products company's stock valued at $64,747,000 after purchasing an additional 9,612 shares during the last quarter. Quantinno Capital Management LP boosted its position in Eaton by 50.2% during the third quarter. Quantinno Capital Management LP now owns 34,438 shares of the industrial products company's stock worth $11,414,000 after purchasing an additional 11,506 shares during the period. Finally, Temasek Holdings Private Ltd acquired a new position in shares of Eaton in the third quarter valued at $43,627,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETN. Barclays cut their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Melius Research restated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.06.

Eaton Trading Down 5.8 %

Shares of ETN traded down $16.38 during mid-day trading on Thursday, reaching $267.21. 2,294,518 shares of the company were exchanged, compared to its average volume of 3,812,912. The business has a 50 day simple moving average of $291.02 and a two-hundred day simple moving average of $327.97. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The stock has a market capitalization of $104.68 billion, a PE ratio of 28.13, a PEG ratio of 2.64 and a beta of 1.09. 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 (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, beating 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 period last year, the company posted $2.55 EPS. On average, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date 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 yield of 1.56%. Eaton's payout ratio is 43.79%.

About Eaton

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.