Axa S.A. Has $205.68 Million Stock Position in Eaton Co. plc (NYSE:ETN)

AXA S.A. raised its position in Eaton Co. plc (NYSE:ETN - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 619,773 shares of the industrial products company's stock after buying an additional 77,089 shares during the period. Eaton comprises about 0.6% of AXA S.A.'s portfolio, making the stock its 27th largest holding. AXA S.A. owned approximately 0.16% of Eaton worth $205,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in Eaton during the 4th quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Eaton in the 4th quarter valued at about $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ETN has been the subject of several analyst reports. Barclays decreased their target price on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Royal Bank of Canada boosted their price target on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday. Melius Research reaffirmed a "hold" rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Evercore ISI dropped their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Finally, Citigroup boosted their target price on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $361.13.

Eaton Stock Performance

NYSE:ETN traded up $4.20 during mid-day trading on Wednesday, hitting $302.31. 1,888,401 shares of the company's stock traded hands, compared to its average volume of 2,637,125. The firm has a 50 day moving average of $281.41 and a two-hundred day moving average of $320.94. The firm has a market capitalization of $118.44 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.64 and a beta of 1.14. 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 Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the prior year, the company posted $2.40 EPS. The business's revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, May 5th. Eaton's payout ratio is 41.98%.

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.