Caisse DE Depot ET Placement DU Quebec Has $64.97 Million Holdings in Eaton Co. plc (NYSE:ETN)

Caisse DE Depot ET Placement DU Quebec raised its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 1,202.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,753 shares of the industrial products company's stock after purchasing an additional 180,725 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Eaton were worth $64,965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETN. Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter valued at about $33,000. Bard Financial Services Inc. bought a new position in Eaton during the third quarter worth about $255,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Eaton in the 3rd quarter valued at approximately $4,913,000. Tidal Investments LLC raised its holdings in shares of Eaton by 68.4% in the 3rd quarter. Tidal Investments LLC now owns 29,722 shares of the industrial products company's stock worth $9,851,000 after buying an additional 12,069 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its position in shares of Eaton by 0.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 15,621 shares of the industrial products company's stock worth $5,177,000 after buying an additional 71 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Down 0.2 %

NYSE:ETN traded down $0.64 during trading hours on Monday, hitting $299.07. 2,454,895 shares of the company were exchanged, compared to its average volume of 2,635,511. The company has a fifty day simple moving average of $281.21 and a 200 day simple moving average of $321.44. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The stock has a market capitalization of $117.17 billion, a price-to-earnings ratio of 31.48, 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 (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the business posted $2.40 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. Sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Monday, May 5th. Eaton's payout ratio is 41.98%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore ISI dropped their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Barclays reduced their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Citigroup raised their price objective on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday. Finally, Melius Research reissued a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $357.31.

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.