Dynamic Technology Lab Private Ltd Invests $233,000 in Eaton Co. plc (NYSE:ETN)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 702 shares of the industrial products company’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc bought a new position in Eaton in the 3rd quarter valued at approximately $33,000. Wellington Management Group LLP increased its position in Eaton by 74.6% in the 3rd quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company’s stock valued at $9,299,000 after acquiring an additional 11,992 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Eaton by 9.6% during the third quarter. Sunbelt Securities Inc. now owns 2,572 shares of the industrial products company’s stock valued at $852,000 after acquiring an additional 225 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Eaton by 5.8% during the third quarter. TD Private Client Wealth LLC now owns 8,636 shares of the industrial products company’s stock worth $2,862,000 after purchasing an additional 470 shares during the period. Finally, Bard Financial Services Inc. bought a new stake in shares of Eaton in the third quarter worth $255,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 4.4 %

Eaton stock opened at $271.00 on Friday. 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’s fifty day moving average price is $290.12 and its two-hundred day moving average price is $327.58. The firm has a market capitalization of $106.17 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 quarter last year, the company posted $2.55 earnings per share. On average, equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.54%. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays cut their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a report on Friday, April 4th. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Evercore ISI decreased 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. Royal Bank of Canada dropped their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $355.06.

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.