Point72 Hong Kong Ltd raised its stake in Eaton Co. PLC (NYSE:ETN) by 632.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,712 shares of the industrial products company’s stock after acquiring an additional 3,205 shares during the period. Point72 Hong Kong Ltd’s holdings in Eaton were worth $352,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Pittenger & Anderson Inc. boosted its position in Eaton by 0.4% during the 4th quarter. Pittenger & Anderson Inc. now owns 27,830 shares of the industrial products company’s stock valued at $2,636,000 after acquiring an additional 110 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its holdings in shares of Eaton by 0.4% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 26,091 shares of the industrial products company’s stock valued at $2,471,000 after purchasing an additional 113 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of Eaton by 2.7% during the 4th quarter. Savant Capital LLC now owns 4,270 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 113 shares during the last quarter. Roof Eidam & Maycock ADV boosted its holdings in shares of Eaton by 1.0% during the 4th quarter. Roof Eidam & Maycock ADV now owns 11,317 shares of the industrial products company’s stock valued at $1,072,000 after purchasing an additional 115 shares during the last quarter. Finally, Summit X LLC boosted its holdings in shares of Eaton by 2.5% during the 4th quarter. Summit X LLC now owns 4,662 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock.

ETN has been the subject of several research reports. Morgan Stanley dropped their price objective on shares of Eaton from $106.00 to $94.00 and set an “equal weight” rating for the company in a report on Tuesday, March 17th. Stephens lifted their price objective on shares of Eaton from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Oppenheimer initiated coverage on shares of Eaton in a report on Tuesday, February 4th. They issued a “buy” rating and a $115.00 price objective for the company. Deutsche Bank cut their price objective on shares of Eaton from $115.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Wolfe Research raised shares of Eaton from a “peer perform” rating to an “outperform” rating in a report on Thursday, January 9th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $102.56.

Shares of NYSE ETN traded up $3.39 during trading on Wednesday, hitting $74.60. The company had a trading volume of 5,259,095 shares, compared to its average volume of 3,625,638. The stock has a fifty day simple moving average of $91.84 and a two-hundred day simple moving average of $90.23. Eaton Co. PLC has a fifty-two week low of $56.42 and a fifty-two week high of $105.78. The firm has a market capitalization of $23.77 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.09 and a beta of 1.29. The company has a quick ratio of 1.15, a current ratio of 1.70 and a debt-to-equity ratio of 0.51.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.03). Eaton had a net margin of 10.34% and a return on equity of 14.75%. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $1.46 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts anticipate that Eaton Co. PLC will post 5.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.73 per share. The ex-dividend date is Thursday, March 12th. This is a positive change from Eaton’s previous quarterly dividend of $0.71. This represents a $2.92 dividend on an annualized basis and a yield of 3.91%. Eaton’s payout ratio is presently 51.50%.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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