Scotia Capital Inc. lifted its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,660 shares of the industrial products company's stock after purchasing an additional 1,664 shares during the quarter. Scotia Capital Inc.'s holdings in Eaton were worth $15,155,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of ETN. Phoenix Financial Ltd. lifted its holdings in shares of Eaton by 1,197.6% in the fourth quarter. Phoenix Financial Ltd. now owns 139,626 shares of the industrial products company's stock worth $46,338,000 after acquiring an additional 128,866 shares during the last quarter. F M Investments LLC lifted its stake in Eaton by 7.4% in the 4th quarter. F M Investments LLC now owns 37,823 shares of the industrial products company's stock valued at $12,552,000 after purchasing an additional 2,605 shares during the last quarter. CenterBook Partners LP acquired a new stake in Eaton in the fourth quarter valued at approximately $424,000. DRW Securities LLC grew its stake in shares of Eaton by 165.0% during the fourth quarter. DRW Securities LLC now owns 12,043 shares of the industrial products company's stock worth $3,997,000 after buying an additional 7,498 shares during the last quarter. Finally, Faithward Advisors LLC increased its holdings in shares of Eaton by 2.2% during the fourth quarter. Faithward Advisors LLC now owns 3,839 shares of the industrial products company's stock worth $1,274,000 after buying an additional 82 shares in the last quarter. Institutional investors own 82.97% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Royal Bank of Canada decreased their price objective on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Citigroup cut their target price on Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a report on Monday. Wells Fargo & Company decreased their price target on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Finally, Melius Research reaffirmed a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $350.22.
Read Our Latest Research Report on Eaton
Eaton Stock Down 0.3 %
ETN traded down $0.80 during midday trading on Tuesday, reaching $277.03. 2,214,382 shares of the company were exchanged, compared to its average volume of 2,620,468. Eaton Co. plc has a one year low of $231.85 and a one year 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 company's fifty day moving average price is $288.60 and its 200 day moving average price is $326.82. The company has a market cap of $108.53 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company posted $2.55 earnings per share. As a group, analysts expect that Eaton Co. plc will post 12.02 EPS 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 represents a $4.16 dividend on an annualized basis and a yield of 1.50%. This is an increase from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton's dividend payout ratio is presently 43.79%.
About Eaton
(
Free Report)
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.
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