Ilmarinen Mutual Pension Insurance Co Invests $31.56 Million in Eaton Co. plc (NYSE:ETN)

Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 95,100 shares of the industrial products company's stock, valued at approximately $31,561,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC acquired a new position in Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new position in Eaton during the 4th quarter worth approximately $30,000. Groupama Asset Managment increased its holdings in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new stake in Eaton during the third quarter worth approximately $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ETN shares. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a report on Tuesday. Citigroup dropped their price target on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Wells Fargo & Company decreased their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Finally, Melius Research reissued a "hold" rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Eaton presently has an average rating of "Moderate Buy" and an average target price of $355.06.

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Eaton Trading Down 3.7 %

Shares of Eaton stock traded down $10.59 during trading hours on Thursday, reaching $273.00. The stock had a trading volume of 2,897,468 shares, compared to its average volume of 2,603,145. The firm has a 50 day simple moving average of $291.02 and a two-hundred day simple moving average of $327.97. The firm has a market capitalization of $106.95 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1 year low of $231.85 and a 1 year 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 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 last year, the firm earned $2.55 EPS. As a group, equities research 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. 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Monday, March 10th. Eaton's dividend payout ratio is presently 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.