Bank Julius Baer & Co. Ltd Zurich Increases Holdings in Eaton Co. plc (NYSE:ETN)

Bank Julius Baer & Co. Ltd Zurich lifted its position in Eaton Co. plc (NYSE:ETN) by 390.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 539,673 shares of the industrial products company’s stock after buying an additional 429,701 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.14% of Eaton worth $193,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Eaton by 253.2% during the 3rd 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 purchasing an additional 1,629,856 shares during the last quarter. Proficio Capital Partners LLC grew its position in Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after buying an additional 730,594 shares during the period. Janus Henderson Group PLC increased its holdings in 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 buying an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Eaton in the third quarter worth approximately $137,794,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Eaton by 3,508.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after acquiring an additional 390,595 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms have recently commented on ETN. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday. Evercore ISI decreased their target price 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, Royal Bank of Canada dropped their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $362.58.

Eaton Stock Performance

NYSE:ETN opened at $285.29 on Friday. The company has a market cap of $111.83 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock’s 50 day simple moving average is $321.13 and its two-hundred day simple moving average is $331.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.46%. 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.