MetLife Investment Management LLC Has $34.71 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

MetLife Investment Management LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,595 shares of the industrial products company's stock after purchasing an additional 1,056 shares during the quarter. MetLife Investment Management LLC's holdings in Eaton were worth $34,712,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Eaton during the 4th quarter worth about $1,495,582,000. Capital International Investors bought a new stake in shares of Eaton during the fourth quarter worth approximately $523,541,000. Proficio Capital Partners LLC grew its holdings in Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock worth $243,036,000 after acquiring an additional 730,594 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Eaton by 390.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company's stock valued at $193,421,000 after purchasing an additional 429,701 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company's stock worth $133,321,000 after purchasing an additional 390,595 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Performance

ETN stock traded up $2.15 during trading hours on Friday, reaching $289.17. The stock had a trading volume of 1,199,674 shares, compared to its average volume of 2,624,648. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a 50-day simple moving average of $282.03 and a 200 day simple moving average of $323.63. The stock has a market capitalization of $113.29 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 quarter in the prior year, the company posted $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio is 43.79%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ETN shares. Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. StockNews.com cut shares of Eaton from a "buy" rating to a "hold" rating in a research report on Tuesday. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Finally, Barclays dropped their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research report on Friday, April 4th. Eight 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $350.22.

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.