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

Aster Capital Management DIFC Ltd grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 11.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,900 shares of the industrial products company’s stock after buying an additional 413 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Eaton were worth $1,294,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its holdings in Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after purchasing an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. bought a new position in shares of Eaton during the 4th quarter worth about $297,000. Webster Bank N. A. grew its stake in shares of Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after buying an additional 6,166 shares during the period. Ballentine Partners LLC increased its position in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after buying an additional 790 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after buying an additional 1,694 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock opened at $246.36 on Friday. The firm has a market capitalization of $96.52 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $296.43 and its 200 day simple moving average is $330.13. Eaton Co. plc has a 12 month low of $236.58 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 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 previous year, the business posted $2.55 EPS. As a group, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.69%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent research reports. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. Melius Research reiterated a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Wells Fargo & Company lowered their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $356.68.

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.