Ilmarinen Mutual Pension Insurance Co Invests $31.56 Million in Eaton Co. plc (NYSE:ETN)

Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 95,100 shares of the industrial products company’s stock, valued at approximately $31,561,000.

Several other institutional investors also recently modified their holdings of ETN. United Bank bought a new position in shares of Eaton during the third quarter worth $258,000. Morse Asset Management Inc bought a new position in Eaton during the third quarter worth about $33,000. Royal London Asset Management Ltd. lifted its holdings in Eaton by 5.2% during the third quarter. Royal London Asset Management Ltd. now owns 195,351 shares of the industrial products company’s stock worth $64,747,000 after acquiring an additional 9,612 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Eaton by 50.2% in the third quarter. Quantinno Capital Management LP now owns 34,438 shares of the industrial products company’s stock worth $11,414,000 after acquiring an additional 11,506 shares in the last quarter. Finally, Temasek Holdings Private Ltd acquired a new stake in shares of Eaton during the third quarter worth about $43,627,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on ETN shares. Royal Bank of Canada reduced their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Barclays lowered their target price on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Evercore ISI cut their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $356.68.

Eaton Trading Down 5.6 %

NYSE ETN opened at $246.36 on Friday. The business’s fifty day moving average is $296.43 and its 200 day moving average is $330.00. Eaton Co. plc has a twelve month low of $236.58 and a twelve month high of $379.99. The company has a market cap of $96.52 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 period last year, the firm posted $2.55 earnings per share. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

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.