Scotia Capital Inc. Has $15.16 Million Holdings in Eaton Co. plc (NYSE:ETN)

Scotia Capital Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.8% in the fourth quarter, Holdings Channel reports. The fund owned 45,660 shares of the industrial products company’s stock after acquiring an additional 1,664 shares during the period. Scotia Capital Inc.’s holdings in Eaton were worth $15,155,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ETN. Phoenix Financial Ltd. boosted its position in Eaton by 1,197.6% in the fourth quarter. Phoenix Financial Ltd. now owns 139,626 shares of the industrial products company’s stock valued at $46,338,000 after buying an additional 128,866 shares in the last quarter. F M Investments LLC raised its position in Eaton by 7.4% in the 4th quarter. F M Investments LLC now owns 37,823 shares of the industrial products company’s stock valued at $12,552,000 after purchasing an additional 2,605 shares during the last quarter. CenterBook Partners LP acquired a new position in Eaton in the fourth quarter worth $424,000. DRW Securities LLC grew its holdings in Eaton by 165.0% during the 4th quarter. DRW Securities LLC now owns 12,043 shares of the industrial products company’s stock worth $3,997,000 after acquiring an additional 7,498 shares during the last quarter. Finally, Faithward Advisors LLC increased its position in Eaton by 2.2% in the 4th quarter. Faithward Advisors LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,274,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of research reports. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a report on Tuesday. Royal Bank of Canada dropped their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company reduced their target price on shares of 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, Barclays cut their price objective on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a report on Friday, April 4th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.06.

Eaton Stock Performance

Shares of ETN stock opened at $271.00 on Friday. The company has a market capitalization of $106.17 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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’s 50 day moving average price is $290.12 and its two-hundred day moving average price is $327.58.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the firm posted $2.55 earnings per share. On average, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. 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. Eaton’s dividend payout ratio is 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.