Vinva Investment Management Ltd raised its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,320 shares of the industrial products company's stock after buying an additional 2,203 shares during the period. Vinva Investment Management Ltd's holdings in Eaton were worth $6,754,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. B. Riley Wealth Advisors Inc. raised its stake in shares of Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after buying an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. purchased a new position in Eaton in the 4th quarter worth about $297,000. Webster Bank N. A. lifted its stake in Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after buying an additional 6,166 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock valued at $3,072,000 after acquiring an additional 790 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after purchasing an additional 1,694 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.
Eaton Stock Performance
ETN traded up $0.35 on Friday, hitting $295.88. 3,188,236 shares of the stock traded hands, compared to its average volume of 2,404,510. The business has a fifty day moving average price of $311.30 and a two-hundred day moving average price of $331.37. 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 Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The firm has a market capitalization of $115.92 billion, a PE ratio of 31.14, a P/E/G 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 (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 quarter in the previous year, the firm earned $2.55 EPS. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.
Eaton Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. 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 1.41%. The ex-dividend date of this dividend is Monday, March 10th. Eaton's payout ratio is 43.79%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on ETN shares. Wells Fargo & Company lowered their price target on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Barclays lowered their target price on Eaton from $353.00 to $325.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Melius lowered shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. StockNews.com downgraded shares of Eaton from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Royal Bank of Canada cut their target price on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $357.68.
Check Out Our Latest Report 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.
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