one8zero8 LLC Buys New Stake in Eaton Co. plc (NYSE:ETN)

one8zero8 LLC bought a new stake in Eaton Co. plc (NYSE:ETN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 38,643 shares of the industrial products company’s stock, valued at approximately $12,825,000. Eaton accounts for approximately 2.8% of one8zero8 LLC’s investment portfolio, making the stock its 7th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eaton by 253.2% in 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 buying an additional 1,629,856 shares during the last quarter. Proficio Capital Partners LLC lifted its position 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 buying an additional 730,594 shares during the last quarter. Janus Henderson Group PLC lifted its position in Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Eaton by 390.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock worth $193,421,000 after buying an additional 429,701 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Eaton in the third quarter worth $137,794,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ETN shares. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Evercore ISI decreased their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price objective 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, Barclays dropped their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $357.68.

Eaton Trading Up 3.8 %

NYSE:ETN opened at $294.53 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The firm has a 50 day moving average of $316.31 and a 200 day moving average of $331.54. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $115.45 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 business earned $2.55 earnings per share. As a group, sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. Eaton’s dividend payout ratio is presently 43.79%.

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.