Capital International Inc. CA Increases Holdings in Eaton Co. plc (NYSE:ETN)

Capital International Inc. CA raised its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 51.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,241 shares of the industrial products company's stock after acquiring an additional 3,842 shares during the quarter. Capital International Inc. CA's holdings in Eaton were worth $3,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Carbahal Olsen Financial Services Group LLC purchased a new position in Eaton in the 4th quarter worth about $527,000. Coastline Trust Co increased its position in shares of Eaton by 0.4% during the fourth quarter. Coastline Trust Co now owns 12,524 shares of the industrial products company's stock worth $4,156,000 after acquiring an additional 49 shares during the period. First Washington CORP bought a new stake in shares of Eaton during the fourth quarter valued at approximately $3,957,000. Forum Financial Management LP boosted its holdings in shares of Eaton by 1.3% in the fourth quarter. Forum Financial Management LP now owns 4,095 shares of the industrial products company's stock valued at $1,359,000 after purchasing an additional 54 shares during the period. Finally, Capital International Ltd. CA grew its stake in Eaton by 6.3% in the fourth quarter. Capital International Ltd. CA now owns 14,643 shares of the industrial products company's stock worth $4,860,000 after purchasing an additional 862 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

ETN has been the subject of several research reports. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. KeyCorp reduced their target price on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Barclays dropped their price objective 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. JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com lowered Eaton from a "buy" rating to a "hold" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $350.22.

Eaton Price Performance

NYSE:ETN traded up $1.89 during trading hours on Friday, hitting $288.91. 2,177,225 shares of the stock were exchanged, compared to its average volume of 2,628,871. The company has a market cap of $113.19 billion, a P/E ratio of 30.41, a P/E/G ratio of 2.64 and a beta of 1.09. The firm's fifty day moving average price is $281.54 and its 200 day moving average price is $323.31. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. 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 posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the company posted $2.55 earnings per share. As a group, equities research analysts anticipate 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. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.44%. Eaton's payout ratio is presently 43.79%.

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.