TD Waterhouse Canada Inc. Increases Holdings in Eaton Co. plc (NYSE:ETN)

TD Waterhouse Canada Inc. boosted its position in Eaton Co. plc (NYSE:ETN - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,493 shares of the industrial products company's stock after acquiring an additional 7,193 shares during the period. TD Waterhouse Canada Inc.'s holdings in Eaton were worth $40,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in Eaton during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter worth $30,000. Horizon Bancorp Inc. IN lifted its position in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in shares of Eaton during the 3rd quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays cut their price objective on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. KeyCorp lowered their price objective on Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Melius Research reiterated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Finally, StockNews.com downgraded shares of Eaton from a "buy" rating to a "hold" rating in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and an average price target of $350.22.

Eaton Stock Performance

NYSE ETN traded up $1.89 during trading hours on Friday, hitting $288.91. The company's stock had a trading volume of 2,177,149 shares, compared to its average volume of 3,718,302. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The company's 50 day simple moving average is $282.03 and its two-hundred day simple moving average is $323.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap 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.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 quarter in the previous year, the business earned $2.55 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal 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 dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's payout ratio is currently 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.