Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Eaton Co. plc (NYSE: ETN – Get Rating) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,372 shares of the industrial products company stock after acquiring an additional 95 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Eaton were worth $ 4,913,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. State Street Corp increased its position in Eaton by 0.7% during the fourth quarter. State Street Corp now owns 16,615,642 shares of the industrial products company stock worth $ 2,871,515,000 after buying an additional 115,947 shares during the last quarter. Norges Bank acquired a new position in Eaton during the fourth quarter worth $ 1,235,314,000. Geode Capital Management LLC increased its position in Eaton by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 6,538,531 shares of the industrial products company stock worth $ 1,126,638,000 after buying an additional 59,543 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Eaton by 15.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,455,308 shares of the industrial products company stock valued at $ 592,309,000 after purchasing an additional 451,727 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Eaton by 14.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,369,798 shares of the industrial products company stock valued at $ 582,368,000 after purchasing an additional 414,104 shares during the last quarter. Institutional investors and hedge funds own 79.10% of the company stock.
NYSE: ETN opened at $ 129.32 on Wednesday. Eaton Co. plc has a 1 year low of $ 123.69 and a 1 year high of $ 175.72. The firm has a 50 day moving average of $ 138.97 and a 200-day moving average of $ 150.63. The company has a current ratio of 0.99, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $ 51.60 billion, a P / E ratio of 23.39, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16.
Eaton (NYSE: ETN – Get Rating) last posted its earnings results on Tuesday, May 3rd. The industrial products company reported $ 1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.60 by $ 0.02. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The company had revenue of $ 4.84 billion during the quarter, compared to analysts’ expectations of $ 4.78 billion. During the same quarter in the previous year, the company posted $ 1.44 earnings per share. Eaton’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, analysts forecast that Eaton Co. plc will post 7.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were paid a $ 0.81 dividend. This represents a $ 3.24 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Thursday, May 12th. Eaton’s dividend payout ratio (DPR) is currently 58.59%.
Several equities research analysts have recently issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Eaton in a research report on Thursday, March 3rd. Mizuho lowered their price target on Eaton from $ 195.00 to $ 185.00 in a research report on Wednesday, May 4th. The Goldman Sachs Group decreased their target price on Eaton from $ 175.00 to $ 146.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Eaton from $ 176.00 to $ 175.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Finally, Barclays downgraded Eaton from an “equal weight” rating to an “underweight” rating and set a $ 120.00 target price on the stock. in a research report on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $ 168.87.
In other news, insider Boise April Miller sold 12,283 shares of Eaton stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $ 138.66, for a total value of $ 1,703,160.78. Following the completion of the transaction, the insider now owns 11,435 shares in the company, valued at $ 1,585,577.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company stock.
About Eaton: (Get Rating)
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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