J.Safra Asset Management Corp Acquires 392 Shares of Eaton Co. plc (NYSE:ETN)

J.Safra Asset Management Corp lifted its stake in Eaton Co. plc (NYSE:ETN) by 44.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,283 shares of the industrial products company’s stock after purchasing an additional 392 shares during the period. J.Safra Asset Management Corp’s holdings in Eaton were worth $426,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares during the period. Proficio Capital Partners LLC grew its stake in Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Eaton during the 3rd quarter valued at $137,794,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after buying an additional 390,595 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $278.94 on Wednesday. The business has a 50-day simple moving average of $324.45 and a two-hundred day simple moving average of $332.49. The company has a market cap of $110.24 billion, a PE ratio of 29.36, a P/E/G ratio of 2.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company earned $2.55 earnings per share. As a group, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.49%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Insiders Place Their Bets

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ETN shares. Royal Bank of Canada restated an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. Wells Fargo & Company restated an “equal weight” rating on shares of Eaton in a report on Thursday, February 13th. Evercore ISI lowered their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $364.65.

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.