Eaton Co. plc (NYSE:ETN) Stock Holdings Raised by Fiduciary Trust Co

Fiduciary Trust Co increased its position in Eaton Co. plc (NYSE:ETN) by 5.7% in the fourth quarter, Holdings Channel reports. The firm owned 26,670 shares of the industrial products company’s stock after purchasing an additional 1,449 shares during the quarter. Fiduciary Trust Co’s holdings in Eaton were worth $8,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Eaton in the 4th quarter valued at about $1,495,582,000. Capital International Investors bought a new position in shares of Eaton during the fourth quarter valued at approximately $523,541,000. Proficio Capital Partners LLC boosted its position in 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 purchasing an additional 730,594 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in 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 worth $193,421,000 after buying an additional 429,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after acquiring an additional 390,595 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Shares of ETN opened at $307.34 on Friday. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market capitalization of $120.41 billion, a PE ratio of 32.35, a PEG ratio of 2.64 and a beta of 1.14. The company’s 50 day moving average price is $282.19 and its 200 day moving average price is $320.53.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $2.40 EPS. Research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.35%. Eaton’s dividend payout ratio is currently 41.98%.

Insider Activity

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider now owns 3,382 shares of the company’s stock, valued at $1,004,014.34. This represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ETN shares. Barclays dropped 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. Wells Fargo & Company reissued an “overweight” rating and issued a $355.00 price target on shares of Eaton in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of Eaton from $289.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup raised their price objective on shares of Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada lifted their price target on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $361.13.

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.