Schroder Investment Management Group Grows Stake in Eaton Co. plc (NYSE:ETN)

Schroder Investment Management Group increased its holdings in Eaton Co. plc (NYSE:ETN) by 14.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 269,203 shares of the industrial products company’s stock after buying an additional 32,969 shares during the period. Schroder Investment Management Group owned 0.07% of Eaton worth $89,478,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Eaton in the 4th quarter valued at about $1,495,582,000. Proficio Capital Partners LLC raised its stake in Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Janus Henderson Group PLC lifted its position in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew 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 worth $193,421,000 after buying an additional 429,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of 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 worth $133,321,000 after buying an additional 390,595 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 2.4 %

ETN opened at $274.05 on Monday. The firm has a market capitalization of $107.37 billion, a price-to-earnings ratio of 28.85, a PEG 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 business has a 50 day simple moving average of $305.90 and a two-hundred day simple moving average of $331.66. 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) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 period last year, the business earned $2.55 earnings per share. 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 was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.52%. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Finally, Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.16.

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.