Fayez Sarofim & Co Has $282.26 Million Stock Holdings in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Fayez Sarofim & Co increased its holdings in Eaton Corporation, PLC by 606.3%, acquiring an additional 880,656 shares to own 1,025,903 shares worth approximately $282.26 million by the end of the recent quarter.
• Eaton recently announced a quarterly dividend of $1.04 per share, representing an annualized dividend yield of 1.2% with a payout ratio of 41.98%.
• The stock's recent earnings report showed a 10.7% year-over-year revenue increase, with an EPS of $2.95, surpassing analysts' expectations.

Fayez Sarofim & Co raised its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 606.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,025,903 shares of the industrial products company's stock after buying an additional 880,656 shares during the quarter. Fayez Sarofim & Co owned 0.26% of Eaton worth $282,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Eaton by 0.8% in the first quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company's stock worth $10,195,725,000 after acquiring an additional 289,819 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Eaton by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after buying an additional 192,482 shares during the last quarter. Northern Trust Corp boosted its stake in Eaton by 8.8% during the 4th quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after purchasing an additional 368,241 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Eaton by 12.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company's stock worth $1,083,442,000 after acquiring an additional 427,509 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after purchasing an additional 3,580,198 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Trading Down 0.7%

Shares of NYSE ETN traded down $2.53 during trading on Monday, reaching $360.32. The stock had a trading volume of 980,500 shares, compared to its average volume of 3,067,097. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $399.56. The company has a market cap of $140.27 billion, a P/E ratio of 36.21, a PEG ratio of 2.68 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24. The business's 50-day moving average price is $354.99 and its 200-day moving average price is $317.65.

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

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio is 41.85%.

Analysts Set New Price Targets

Several research firms recently commented on ETN. Royal Bank Of Canada lifted their price target on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. BNP Paribas started coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. KeyCorp raised their target price on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Barclays lifted their target price on shares of Eaton from $340.00 to $344.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $383.63.

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.