Rockefeller Capital Management L.P. Buys 6,124 Shares of Eaton Co. plc (NYSE:ETN)

Rockefeller Capital Management L.P. raised its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 236,802 shares of the industrial products company's stock after purchasing an additional 6,124 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.06% of Eaton worth $78,579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ETN. Vanguard Group Inc. raised its holdings in shares of Eaton by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock valued at $12,351,506,000 after buying an additional 99,291 shares during the last quarter. FMR LLC increased its position in Eaton by 1.2% in the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after acquiring an additional 182,455 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Eaton by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after acquiring an additional 129,071 shares during the last quarter. Norges Bank acquired a new position in shares of Eaton during the fourth quarter worth approximately $1,495,582,000. Finally, Franklin Resources Inc. grew its stake in shares of Eaton by 13.3% during the fourth 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 last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

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Eaton Stock Down 0.3 %

Shares of NYSE:ETN traded down $0.80 during midday trading on Tuesday, reaching $277.03. 2,216,233 shares of the company were exchanged, compared to its average volume of 2,621,164. The firm has a market cap of $108.53 billion, a PE ratio of 29.16, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock has a fifty day simple moving average of $288.60 and a two-hundred day simple moving average of $326.82.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the company earned $2.55 earnings per share. As a group, sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $1.04 per share. 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 annualized dividend and a yield of 1.50%. Eaton's dividend payout ratio is presently 43.79%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group cut 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. Melius Research reiterated a "hold" rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. StockNews.com raised Eaton from a "hold" rating to a "buy" rating in a report on Monday. Finally, Barclays reduced their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $350.22.

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.