TD Asset Management Inc. Purchases 107,979 Shares of Eaton Co. plc (NYSE:ETN)

TD Asset Management Inc. increased its position in Eaton Co. plc (NYSE:ETN) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,935,890 shares of the industrial products company’s stock after acquiring an additional 107,979 shares during the period. TD Asset Management Inc. owned about 0.49% of Eaton worth $642,464,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new stake in Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter worth $30,000. Groupama Asset Managment lifted its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in Eaton in the third quarter worth about $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE:ETN opened at $303.41 on Tuesday. The firm has a fifty day simple moving average of $310.56 and a two-hundred day simple moving average of $331.79. 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 $118.87 billion, a P/E ratio of 31.94, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings results 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the company earned $2.55 earnings per share. On average, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is presently 43.79%.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Melius Research reissued a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a research note on Wednesday, March 12th. Citigroup cut their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Company 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.