Eaton Co. plc (NYSE:ETN) Shares Bought by MML Investors Services LLC

MML Investors Services LLC boosted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 32.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,647 shares of the industrial products company's stock after acquiring an additional 14,511 shares during the period. MML Investors Services LLC's holdings in Eaton were worth $19,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter worth $33,000. Bard Financial Services Inc. purchased a new position in Eaton during the third quarter worth about $255,000. Advisory Resource Group lifted its position in Eaton by 10.9% in the third quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company's stock valued at $1,444,000 after purchasing an additional 428 shares during the period. Chelsea Counsel Co. lifted its holdings in shares of Eaton by 29.4% in the 3rd quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company's stock valued at $73,000 after buying an additional 50 shares during the period. Finally, Tudor Financial Inc. acquired a new stake in Eaton in the third quarter valued at $265,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETN. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Melius Research reiterated a "hold" rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Finally, Barclays dropped their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research note on Friday, April 4th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $350.22.

Eaton Stock Up 4.3 %

Shares of NYSE ETN traded up $11.73 during midday trading on Thursday, reaching $287.39. 2,751,088 shares of the company's stock were exchanged, compared to its average volume of 2,629,968. The stock has a market capitalization of $112.59 billion, a PE ratio of 30.25, a price-to-earnings-growth 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 debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business's fifty day moving average price is $282.03 and its two-hundred day moving average price is $323.63.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the company posted $2.55 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.45%. Eaton's 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.