KCM Investment Advisors LLC Has $6.01 Million Stock Position in Eaton Co. plc (NYSE:ETN)

KCM Investment Advisors LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,102 shares of the industrial products company’s stock after acquiring an additional 70 shares during the period. KCM Investment Advisors LLC’s holdings in Eaton were worth $6,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Norges Bank acquired a new stake in shares of Eaton in the 4th quarter valued at about $1,495,582,000. Proficio Capital Partners LLC lifted its stake in Eaton by 42,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after acquiring an additional 730,594 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in Eaton by 390.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock worth $193,421,000 after acquiring an additional 429,701 shares during the last quarter. Assenagon Asset Management S.A. grew 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 in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Eaton by 13.3% in the fourth quarter. Franklin Resources Inc. now owns 2,744,691 shares of the industrial products company’s stock valued at $910,881,000 after purchasing an additional 323,065 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETN has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Barclays decreased their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $356.68.

Eaton Stock Down 5.6 %

ETN opened at $246.36 on Friday. The stock has a fifty day moving average of $296.43 and a 200-day moving average of $330.00. The company has a market capitalization of $96.52 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $236.58 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.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 business posted $2.55 earnings per share. On average, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. The ex-dividend date was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.69%. Eaton’s payout ratio is currently 43.79%.

About Eaton

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.