Eaton Co. plc (NYSE:ETN) Shares Acquired by Bank of Marin

Bank of Marin increased its position in Eaton Co. plc (NYSE:ETN) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,195 shares of the industrial products company’s stock after acquiring an additional 250 shares during the period. Bank of Marin’s holdings in Eaton were worth $397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 acquiring an additional 1,629,856 shares during the period. Proficio Capital Partners LLC lifted its stake in Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after buying an additional 730,594 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Eaton by 32.8% in 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. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Eaton by 390.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock valued at $193,421,000 after buying an additional 429,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after buying an additional 390,595 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ETN. Barclays reduced 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. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $357.68.

Eaton Trading Down 2.2 %

Shares of ETN opened at $290.59 on Wednesday. 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 firm has a market capitalization of $113.91 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock’s fifty day simple moving average is $314.23 and its 200 day simple moving average is $331.66. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last announced 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 company posted $2.55 earnings per share. On average, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is currently 43.79%.

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.