292,745 Shares in Eaton Co. plc (NYSE:ETN) Bought by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado purchased a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 292,745 shares of the industrial products company's stock, valued at approximately $97,153,000. Public Employees Retirement Association of Colorado owned approximately 0.07% of Eaton as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wetzel Investment Advisors Inc. grew its holdings in Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after purchasing an additional 28 shares during the period. Westmount Partners LLC lifted its position in shares of Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock worth $327,000 after purchasing an additional 30 shares in the last quarter. Signal Advisors Wealth LLC lifted its position in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock worth $297,000 after purchasing an additional 30 shares in the last quarter. Lantz Financial LLC lifted its position in shares of Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock worth $219,000 after purchasing an additional 30 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock worth $544,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Price Performance

NYSE:ETN traded up $3.90 during midday trading on Wednesday, hitting $294.59. 2,539,494 shares of the stock were exchanged, compared to its average volume of 2,615,814. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a market capitalization of $115.41 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 2.64 and a beta of 1.09. The business has a 50-day moving average price of $280.76 and a two-hundred day moving average price of $322.52. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the company posted $2.55 EPS. Sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio (DPR) is presently 43.79%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ETN. Wells Fargo & Company cut their price target on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Evercore ISI cut their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Barclays cut their price target 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. Royal Bank of Canada dropped their target price on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Finally, Jefferies Financial Group dropped their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and an average price target of $350.22.

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.