Davis R M Inc. Has $64.92 Million Stake in Eaton Co. plc (NYSE:ETN)

Davis R M Inc. reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,629 shares of the industrial products company’s stock after selling 3,770 shares during the period. Eaton comprises about 1.3% of Davis R M Inc.’s investment portfolio, making the stock its 24th largest holding. Davis R M Inc.’s holdings in Eaton were worth $64,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after buying an additional 56,516 shares during the period. Franklin Resources Inc. increased its stake in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after purchasing an additional 316,830 shares during the period. Janus Henderson Group PLC grew its position 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 worth $801,798,000 after buying an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eaton by 253.2% during the third 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 worth $753,590,000 after buying an additional 1,629,856 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Eaton by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,255,566 shares of the industrial products company’s stock worth $748,555,000 after buying an additional 37,138 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of NYSE:ETN opened at $277.16 on Tuesday. The company has a market capitalization of $108.65 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm’s 50-day moving average is $320.02 and its 200 day moving average is $332.04. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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 posted $2.55 earnings per share. Research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ETN shares. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. 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. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada cut their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, UBS Group initiated coverage on shares of Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.58.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by insiders.

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.