Fisher Asset Management LLC Acquires 8,572 Shares of Eaton Co. plc (NYSE:ETN)

Fisher Asset Management LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,874 shares of the industrial products company’s stock after acquiring an additional 8,572 shares during the quarter. Fisher Asset Management LLC owned approximately 0.05% of Eaton worth $70,315,000 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 business. Maple Capital Management Inc. bought a new position in Eaton during the fourth quarter valued at approximately $203,000. SVB Wealth LLC bought a new position in Eaton during the fourth quarter valued at approximately $16,473,000. Tower Bridge Advisors raised its position in Eaton by 1.3% during the fourth quarter. Tower Bridge Advisors now owns 33,879 shares of the industrial products company’s stock valued at $11,243,000 after acquiring an additional 450 shares in the last quarter. Waterway Wealth Management LLC raised its position in Eaton by 10.1% during the fourth quarter. Waterway Wealth Management LLC now owns 762 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 70 shares in the last quarter. Finally, Private Trust Co. NA raised its position in Eaton by 5.5% during the fourth quarter. Private Trust Co. NA now owns 7,961 shares of the industrial products company’s stock valued at $2,642,000 after acquiring an additional 412 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Eaton Stock Up 1.0 %

ETN opened at $293.21 on Friday. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm’s fifty day moving average price is $326.90 and its two-hundred day moving average price is $332.55. The company has a market capitalization of $115.88 billion, a P/E ratio of 30.86, a P/E/G ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its quarterly earnings results 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 quarter in the prior year, the company earned $2.55 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.42%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ETN shares. Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. UBS Group started coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Melius lowered 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. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

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.