Ceeto Capital Group LLC Buys 1,000 Shares of Eaton Co. plc (NYSE:ETN)

Ceeto Capital Group LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 56.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,773 shares of the industrial products company’s stock after buying an additional 1,000 shares during the period. Ceeto Capital Group LLC’s holdings in Eaton were worth $920,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ETN. Norges Bank bought a new stake in Eaton in the 4th quarter worth approximately $1,495,582,000. Proficio Capital Partners LLC lifted its position in shares of Eaton by 42,255.3% during 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. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Eaton by 390.7% during 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 purchasing an additional 429,701 shares during the period. Assenagon Asset Management S.A. boosted 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 worth $133,321,000 after purchasing an additional 390,595 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of Eaton by 607.7% during the fourth quarter. APG Asset Management N.V. now owns 412,788 shares of the industrial products company’s stock worth $132,295,000 after acquiring an additional 354,459 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ETN. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Barclays reduced their price target on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Friday, April 4th. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a report on Tuesday. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Royal Bank of Canada lowered their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $355.06.

Eaton Trading Up 2.4 %

Shares of Eaton stock opened at $277.13 on Friday. The business’s fifty day moving average is $289.36 and its two-hundred day moving average is $327.22. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The firm has a market cap of $108.57 billion, a PE ratio of 29.17, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 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 last year, the firm earned $2.55 EPS. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Eaton 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.