California State Teachers Retirement System raised its position in Eaton Co., PLC (NYSE:ETN) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 796,442 shares of the industrial products company’s stock after purchasing an additional 3,237 shares during the period. California State Teachers Retirement System owned 0.18% of Eaton worth $62,927,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Eaton by 0.9% in the 4th quarter. BlackRock Inc. now owns 29,251,387 shares of the industrial products company’s stock valued at $2,311,153,000 after purchasing an additional 255,214 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Eaton by 12.1% in the 4th quarter. Lazard Asset Management LLC now owns 6,558,015 shares of the industrial products company’s stock valued at $518,148,000 after purchasing an additional 705,914 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Eaton by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,706,383 shares of the industrial products company’s stock valued at $371,072,000 after purchasing an additional 64,496 shares in the last quarter. Deutsche Bank AG lifted its holdings in Eaton by 11.4% in the 4th quarter. Deutsche Bank AG now owns 3,391,041 shares of the industrial products company’s stock valued at $267,921,000 after purchasing an additional 346,702 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in Eaton by 4.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 2,334,366 shares of the industrial products company’s stock valued at $184,438,000 after purchasing an additional 106,209 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.
Shares of Eaton Co., PLC (NYSE ETN) opened at $81.28 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $35,890.00, a PE ratio of 12.11, a P/E/G ratio of 2.00 and a beta of 1.36. Eaton Co., PLC has a 52-week low of $69.82 and a 52-week high of $89.85.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Monday, March 12th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from Eaton’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, March 9th. Eaton’s dividend payout ratio (DPR) is presently 39.34%.
ETN has been the topic of a number of research reports. Stifel Nicolaus restated a “hold” rating and issued a $80.00 price objective on shares of Eaton in a report on Monday, December 11th. Zacks Investment Research lowered Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Barclays initiated coverage on Eaton in a report on Thursday, February 15th. They issued an “equal weight” rating and a $90.00 price objective on the stock. Argus upgraded Eaton to a “buy” rating and raised their price objective for the company from $85.00 to $90.00 in a report on Thursday, February 8th. Finally, Robert W. Baird upgraded Eaton from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $82.00 to $92.00 in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.20.
In related news, insider Ken D. Semelsberger sold 15,595 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $82.67, for a total transaction of $1,289,238.65. Following the completion of the sale, the insider now directly owns 104,613 shares of the company’s stock, valued at approximately $8,648,356.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is currently owned by company insiders.
Eaton Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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