Aster Capital Management DIFC Ltd Buys 413 Shares of Eaton Co. plc (NYSE:ETN)

Aster Capital Management DIFC Ltd boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,900 shares of the industrial products company’s stock after acquiring an additional 413 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Eaton were worth $1,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. United Bank acquired a new position in Eaton in the third quarter valued at about $258,000. Morse Asset Management Inc bought a new position in Eaton in the 3rd quarter valued at about $33,000. Worldquant Millennium Advisors LLC raised its position in shares of Eaton by 19.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 7,263 shares of the industrial products company’s stock valued at $2,407,000 after buying an additional 1,158 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Eaton by 74.6% during the 3rd quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company’s stock worth $9,299,000 after acquiring an additional 11,992 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in Eaton by 18.4% in the third quarter. Kovitz Investment Group Partners LLC now owns 44,559 shares of the industrial products company’s stock valued at $14,769,000 after acquiring an additional 6,913 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the topic of a number of research analyst reports. StockNews.com downgraded Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price for the company in a research note on Wednesday, March 12th. 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. Finally, Royal Bank of Canada lowered their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $356.68.

Eaton Stock Down 5.6 %

Shares of NYSE:ETN opened at $246.36 on Friday. The firm has a market cap of $96.52 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12-month low of $236.58 and a 12-month high of $379.99. The business has a fifty day simple moving average of $296.43 and a 200 day simple moving average of $330.13. 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 (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business earned $2.55 earnings per share. Analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.69%. Eaton’s dividend payout ratio is 43.79%.

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.