Vinva Investment Management Ltd Buys 2,203 Shares of Eaton Co. plc (NYSE:ETN)

Vinva Investment Management Ltd increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 12.2% during the 4th quarter, Holdings Channel reports. The fund owned 20,320 shares of the industrial products company’s stock after acquiring an additional 2,203 shares during the period. Vinva Investment Management Ltd’s holdings in Eaton were worth $6,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of Marin boosted its stake in Eaton by 26.5% during the fourth quarter. Bank of Marin now owns 1,195 shares of the industrial products company’s stock worth $397,000 after acquiring an additional 250 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in Eaton during the fourth quarter worth $386,000. Fox Hill Wealth Management bought a new position in Eaton during the fourth quarter worth $1,337,000. Brooklyn FI LLC bought a new position in Eaton during the fourth quarter worth $427,000. Finally, Xponance Inc. lifted its stake in shares of Eaton by 5.0% in the fourth quarter. Xponance Inc. now owns 59,646 shares of the industrial products company’s stock valued at $19,795,000 after buying an additional 2,854 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Evercore ISI dropped their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group dropped their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton Stock Performance

NYSE ETN opened at $290.59 on Wednesday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a 50-day simple moving average of $314.23 and a 200 day simple moving average of $331.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market capitalization of $113.91 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the firm earned $2.55 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.43%. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Eaton 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.