Dillon & Associates Inc. Acquires 835 Shares of Eaton Co. plc (NYSE:ETN)

Dillon & Associates Inc. lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 10.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,553 shares of the industrial products company’s stock after buying an additional 835 shares during the quarter. Dillon & Associates Inc.’s holdings in Eaton were worth $2,840,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 valued at $12,351,506,000 after buying an additional 99,291 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after buying an additional 56,516 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after buying an additional 597,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Citigroup cut their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company cut their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada cut their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Melius Research restated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.68.

Eaton Trading Up 0.1 %

NYSE:ETN opened at $295.88 on Monday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a fifty day simple moving average of $311.30 and a 200-day simple moving average of $331.67. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $115.92 billion, a P/E ratio of 31.14, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 firm earned $2.55 earnings per share. On average, equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company 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. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. Eaton’s payout ratio is presently 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.