TD Asset Management Inc. Buys 107,979 Shares of Eaton Co. plc (NYSE:ETN)

TD Asset Management Inc. raised its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,935,890 shares of the industrial products company's stock after acquiring an additional 107,979 shares during the quarter. TD Asset Management Inc. owned about 0.49% of Eaton worth $642,464,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC acquired a new stake in Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the fourth quarter worth $30,000. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at about $33,000. Finally, Activest Wealth Management increased its position in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after acquiring an additional 87 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of analyst reports. Melius Research restated a "hold" rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada lowered their price target on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus target price of $357.16.

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Eaton Trading Down 2.5 %

NYSE:ETN traded down $6.94 during trading hours on Friday, hitting $273.97. 2,048,013 shares of the company were exchanged, compared to its average volume of 3,699,501. The company has a fifty day simple moving average of $307.35 and a 200 day simple moving average of $331.22. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The stock has a market capitalization of $107.33 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 posted its quarterly earnings data 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company earned $2.55 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.52%. Eaton's dividend payout ratio (DPR) is 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.