XTX Topco Ltd Makes New Investment in Eaton Co. plc (NYSE:ETN)

XTX Topco Ltd purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, Holdings Channel reports. The fund purchased 3,733 shares of the industrial products company’s stock, valued at approximately $1,239,000.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in Eaton during the third quarter worth about $33,000. Wellington Management Group LLP grew its holdings in shares of Eaton by 74.6% during the third quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company’s stock worth $9,299,000 after buying an additional 11,992 shares in the last quarter. Bard Financial Services Inc. acquired a new stake in shares of Eaton in the third quarter valued at approximately $255,000. Advisory Resource Group increased its stake in Eaton by 10.9% in the 3rd quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company’s stock valued at $1,444,000 after buying an additional 428 shares during the last quarter. Finally, Chelsea Counsel Co. raised its holdings in Eaton by 29.4% during the third quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $277.05 on Tuesday. The company has a market capitalization of $108.54 billion, a PE ratio of 29.16, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. 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 50 day simple moving average of $288.60 and a two-hundred day simple moving average of $326.82.

Eaton (NYSE:ETN) last announced its 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 firm earned $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors 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 yield of 1.50%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Analyst Ratings Changes

ETN has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company lowered their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Melius Research reissued a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Citigroup reduced their target price on Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a report on Monday. Finally, StockNews.com raised shares of Eaton from a “hold” rating to a “buy” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $350.22.

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.