Ostrum Asset Management Increases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Ostrum Asset Management raised its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,540 shares of the industrial products company's stock after purchasing an additional 7,005 shares during the period. Eaton accounts for about 2.3% of Ostrum Asset Management's portfolio, making the stock its 23rd biggest position. Ostrum Asset Management's holdings in Eaton were worth $26,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. increased its position in Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after acquiring an additional 28 shares during the last quarter. Westmount Partners LLC lifted its stake in Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock worth $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC boosted its position in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after buying an additional 30 shares during the period. Lantz Financial LLC raised its holdings in shares of Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock worth $219,000 after buying an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in shares of Eaton by 2.0% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock worth $544,000 after acquiring an additional 32 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of ETN stock traded up $1.89 during mid-day trading 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 quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The firm has a fifty day moving average of $281.54 and a 200 day moving average of $323.31. The company has a market cap of $113.19 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the company earned $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. KeyCorp lowered their price objective on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Citigroup lowered their target price on Eaton from $396.00 to $323.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.