Ostrum Asset Management Increases Stake in Eaton Co. plc (NYSE:ETN)

Ostrum Asset Management grew its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 9.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 79,540 shares of the industrial products company's stock after acquiring an additional 7,005 shares during the period. Eaton comprises about 2.3% of Ostrum Asset Management's holdings, making the stock its 23rd largest holding. Ostrum Asset Management's holdings in Eaton were worth $26,397,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Eaton during the 4th quarter valued at $1,495,582,000. Capital International Investors purchased a new stake in Eaton in the fourth quarter worth about $523,541,000. Proficio Capital Partners LLC increased its stake in shares of Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock valued at $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Eaton by 390.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company's stock valued at $193,421,000 after purchasing an additional 429,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock worth $133,321,000 after purchasing an additional 390,595 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ETN shares. Barclays lowered their price objective 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. Royal Bank of Canada reduced their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Melius Research reiterated a "hold" rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Citigroup reduced their price target on shares of Eaton from $396.00 to $323.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price objective on Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Eight equities 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, Eaton has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.

Eaton Stock Performance

Shares of NYSE ETN traded up $1.89 during trading on Friday, hitting $288.91. The company had a trading volume of 2,177,026 shares, compared to its average volume of 3,717,576. Eaton Co. plc has a 12 month low of $231.85 and a 12 month 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 firm has a market capitalization of $113.19 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock has a 50 day simple moving average of $282.03 and a 200 day simple moving average of $323.63.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 quarter in the previous year, the business posted $2.55 EPS. As a group, analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid 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 yield of 1.44%. Eaton's payout ratio is presently 43.79%.

Eaton 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.