Profund Advisors LLC lifted its holdings in shares of Eaton Co., PLC (NYSE:ETN) by 29.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,480 shares of the industrial products company’s stock after purchasing an additional 3,295 shares during the period. Profund Advisors LLC’s holdings in Eaton were worth $1,144,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in shares of Eaton during the 4th quarter worth $118,000. Delpha Capital Management LLC purchased a new stake in Eaton in the 4th quarter worth about $124,000. Fieldpoint Private Securities LLC purchased a new stake in Eaton in the 3rd quarter worth about $130,000. Montag A & Associates Inc. purchased a new stake in Eaton in the 4th quarter worth about $201,000. Finally, Murphy Capital Management Inc. purchased a new stake in Eaton in the 4th quarter worth about $201,000. Institutional investors own 78.99% of the company’s stock.
Eaton Co., PLC (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 firm has a market capitalization of $35,889.51, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.96 and a beta of 1.36. Eaton Co., PLC has a twelve month low of $69.82 and a twelve month high of $89.85.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Monday, March 12th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Friday, March 9th. This is a positive change from Eaton’s previous quarterly dividend of $0.60. Eaton’s payout ratio is presently 39.52%.
Several equities research analysts recently weighed in on the company. ValuEngine raised Eaton from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group reissued a “hold” rating and issued a $90.00 price objective on shares of Eaton in a report on Friday, February 2nd. Stifel Nicolaus raised Eaton from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $77.00 to $99.00 in a report on Sunday, February 4th. Zacks Investment Research raised Eaton from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Finally, UBS Group assumed coverage on Eaton in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $87.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $88.20.
In other Eaton news, insider Ken D. Semelsberger sold 15,595 shares of Eaton 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 transaction, the insider now owns 104,613 shares of the company’s stock, valued at approximately $8,648,356.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is owned by insiders.
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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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