Banque Transatlantique SA Takes Position in Eaton Co. plc (NYSE:ETN)

Banque Transatlantique SA purchased a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 88,228 shares of the industrial products company's stock, valued at approximately $29,788,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in Eaton in the 4th quarter worth approximately $1,495,582,000. Capital International Investors bought a new stake in shares of Eaton during the fourth quarter valued at approximately $523,541,000. Proficio Capital Partners LLC lifted its holdings in shares of Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after buying an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Eaton by 390.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company's stock worth $193,421,000 after acquiring an additional 429,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

ETN has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Eaton from $289.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday. Citigroup raised their price target on Eaton from $323.00 to $351.00 and gave the company a "buy" rating in a report on Monday. Melius Research reaffirmed a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $355.00 price target on shares of Eaton in a research note on Monday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $361.13.

Eaton Trading Up 1.4 %

Eaton stock traded up $4.20 during mid-day trading on Wednesday, hitting $302.31. The company's stock had a trading volume of 1,888,780 shares, compared to its average volume of 2,640,503. 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 50 day moving average of $281.41 and a 200-day moving average of $320.94. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The stock has a market cap of $118.44 billion, a PE ratio of 31.82, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 EPS. On average, research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

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