TD Waterhouse Canada Inc. Has $41 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

TD Waterhouse Canada Inc. raised its holdings in Eaton Co. plc (NYSE:ETN) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,493 shares of the industrial products company’s stock after purchasing an additional 7,193 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Eaton were worth $40,998,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton during the fourth quarter worth $30,000. Horizon Bancorp Inc. IN boosted its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in Eaton in the 3rd quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of research reports. KeyCorp dropped their price objective on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. StockNews.com raised shares of Eaton from a “hold” rating to a “buy” rating in a research note on Monday, April 14th. Finally, Citigroup lowered their target price on shares of Eaton from $396.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $350.22.

Eaton Price Performance

Shares of NYSE:ETN opened at $268.15 on Monday. The stock’s 50 day moving average is $284.95 and its 200-day moving average is $325.21. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $105.05 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $2.55 earnings per share. Sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.55%. 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.