AGF Management Ltd. Has $120.99 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

AGF Management Ltd. grew its holdings in Eaton Co. plc (NYSE:ETN) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 364,554 shares of the industrial products company’s stock after acquiring an additional 27,249 shares during the quarter. AGF Management Ltd. owned 0.09% of Eaton worth $120,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Noble Wealth Management PBC bought a new position in Eaton in the fourth quarter worth $30,000. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter worth about $33,000. Finally, Activest Wealth Management boosted its stake in Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ETN has been the subject of several research analyst reports. Citigroup decreased their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Bank of America boosted their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. UBS Group assumed coverage on shares of Eaton in a report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $362.58.

Eaton Stock Performance

Shares of Eaton stock opened at $277.16 on Tuesday. The company has a 50 day moving average of $320.02 and a 200-day moving average of $332.04. The company has a market cap of $108.65 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business earned $2.55 earnings per share. As a group, equities research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is currently 43.79%.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were 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 in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

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.