Tower Research Capital LLC TRC lifted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 106.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,366 shares of the industrial products company's stock after buying an additional 11,508 shares during the quarter. Tower Research Capital LLC TRC's holdings in Eaton were worth $7,423,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Eaton by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after purchasing an additional 99,291 shares in the last quarter. FMR LLC boosted its stake in shares of Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after buying an additional 182,455 shares during the period. Geode Capital Management LLC increased its stake in Eaton by 1.6% during the 4th 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 period. Norges Bank acquired a new position in Eaton in the 4th quarter valued at $1,495,582,000. Finally, Franklin Resources Inc. lifted its position in shares of Eaton by 13.3% during the 4th quarter. Franklin Resources Inc. now owns 2,744,691 shares of the industrial products company's stock valued at $910,881,000 after acquiring an additional 323,065 shares during the period. Institutional investors own 82.97% of the company's stock.
Eaton Trading Up 4.3 %
NYSE:ETN traded up $11.73 during trading hours on Thursday, hitting $287.39. 2,751,088 shares of the company were exchanged, compared to its average volume of 2,633,634. The company has a fifty day simple moving average of $282.46 and a 200 day simple moving average of $323.96. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The stock has a market capitalization of $112.59 billion, a price-to-earnings ratio of 30.25, 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 released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 period last year, the business earned $2.55 EPS. Sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.
Eaton Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.45%. Eaton's dividend payout ratio is currently 43.79%.
Analyst Ratings Changes
A number of brokerages recently commented on ETN. StockNews.com cut Eaton from a "buy" rating to a "hold" rating in a research report on Tuesday. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Citigroup decreased their price objective on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. 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. Finally, KeyCorp reduced their target price on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $350.22.
Get Our Latest Analysis on Eaton
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.
Recommended Stories
Before you consider Eaton, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eaton wasn't on the list.
While Eaton currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
