Dillon & Associates Inc. Acquires 3,326 Shares of Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Dillon & Associates Inc. increased its holdings in Eaton Corporation by 38.9%, acquiring 3,326 shares in the first quarter, bringing its total to 11,879 shares valued at approximately $3.23 million.
• Institutional investors collectively hold 82.97% of Eaton's stock, with other notable increases in ownership from firms like GAMMA Investing LLC and Brighton Jones LLC.
• Eaton announced a quarterly dividend of $1.04 per share, resulting in an annualized dividend yield of 1.1% and a payout ratio of 41.85%.

Dillon & Associates Inc. boosted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 38.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,879 shares of the industrial products company's stock after acquiring an additional 3,326 shares during the quarter. Dillon & Associates Inc.'s holdings in Eaton were worth $3,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Eaton by 0.7% in the first quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after acquiring an additional 96 shares during the period. Bearing Point Capital LLC bought a new stake in Eaton during the fourth quarter worth about $2,713,000. Brighton Jones LLC grew its stake in Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after buying an additional 164 shares during the last quarter. Kennebec Savings Bank grew its stake in Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after buying an additional 139 shares during the last quarter. Finally, American National Bank & Trust grew its stake in Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after buying an additional 162 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Trading Up 0.8%

Shares of NYSE ETN opened at $363.07 on Monday. The company's 50 day simple moving average is $354.99 and its 200 day simple moving average is $317.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 0.76. The firm has a market capitalization of $141.34 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.68 and a beta of 1.18. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.03. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $2.73 earnings per share. On average, analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be issued a $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.1%. Eaton's dividend payout ratio (DPR) is 41.85%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BNP Paribas assumed coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Evercore ISI upped their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Wall Street Zen cut shares of Eaton from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada upped their price objective on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group increased their price target on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $383.63.

About Eaton

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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