Victory Capital Management Inc. Has $127.23 Million Position in Eaton Co. plc (NYSE:ETN)

Victory Capital Management Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,376 shares of the industrial products company's stock after purchasing an additional 48,848 shares during the quarter. Victory Capital Management Inc. owned 0.10% of Eaton worth $127,231,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Wetzel Investment Advisors Inc. raised its position in shares of Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock worth $1,029,000 after purchasing an additional 28 shares during the period. Westmount Partners LLC raised its position in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock valued at $327,000 after buying an additional 30 shares during the last quarter. Signal Advisors Wealth LLC raised its position in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after buying an additional 30 shares during the last quarter. Lantz Financial LLC raised its position in Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after buying an additional 30 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Eaton by 2.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company's stock valued at $513,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Barclays lowered their price target on Eaton from $353.00 to $325.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada lowered their price target on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Melius Research reaffirmed a "hold" rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and an average price target of $362.58.

Eaton Stock Performance

ETN traded up $7.74 during trading on Friday, hitting $285.29. The stock had a trading volume of 4,533,919 shares, compared to its average volume of 3,707,284. The company has a 50 day moving average price of $321.13 and a 200-day moving average price of $331.96. The firm has a market cap of $111.83 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly 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 return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the firm posted $2.55 earnings per share. As a group, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.46%. Eaton's payout ratio is currently 43.79%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company's stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company's stock.

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.