Capital Advantage Inc. Purchases Shares of 3,303 Eaton Co. plc (NYSE:ETN)

Capital Advantage Inc. acquired a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 3,303 shares of the industrial products company's stock, valued at approximately $1,096,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after purchasing an additional 99,291 shares during the period. FMR LLC boosted its position in shares of Eaton by 1.2% during the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock worth $5,051,807,000 after acquiring an additional 182,455 shares during the last quarter. Geode Capital Management LLC increased its holdings in Eaton by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock valued at $2,714,677,000 after acquiring an additional 129,071 shares during the last quarter. Northern Trust Corp lifted its stake in Eaton by 8.8% in the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after purchasing an additional 368,241 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Eaton during the 4th quarter valued at about $1,495,582,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 0.2 %

NYSE ETN opened at $299.07 on Tuesday. The company's 50-day simple moving average is $281.24 and its two-hundred day simple moving average is $321.09. 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 $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 debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

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

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's payout ratio is 41.98%.

Analysts Set New Price Targets

A number of brokerages recently commented on ETN. Melius Research reissued a "hold" rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Barclays decreased 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 note on Friday, April 4th. KeyCorp boosted their target price on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday. Wells Fargo & Company lifted their price target on Eaton from $270.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, Royal Bank of Canada raised their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $357.31.

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.

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