Lingohr Asset Management GmbH Makes New Investment in Eaton Co. plc (NYSE:ETN)

Lingohr Asset Management GmbH purchased a new position in Eaton Co. plc (NYSE:ETN) in the 4th quarter, Holdings Channel.com reports. The fund purchased 800 shares of the industrial products company’s stock, valued at approximately $266,000.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock worth $2,665,342,000 after purchasing an additional 56,516 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after acquiring an additional 597,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Eaton by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company’s stock valued at $748,555,000 after acquiring an additional 37,138 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. 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 note on Thursday, March 6th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research note on Wednesday, March 12th. Jefferies Financial Group lowered their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Seven investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton Price Performance

Shares of ETN opened at $294.52 on Thursday. The stock has a market cap of $115.45 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The firm’s 50-day simple moving average is $313.21 and its two-hundred day simple moving average is $331.40.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 period in the previous year, the firm earned $2.55 EPS. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company 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 represents a $4.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 43.79%.

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.