Bessemer Group Inc. lessened its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,105,933 shares of the industrial products company's stock after selling 19,570 shares during the quarter. Bessemer Group Inc. owned 0.28% of Eaton worth $367,028,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC acquired a new position in Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton during the 4th quarter worth $30,000. Horizon Bancorp Inc. IN increased its holdings 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 in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the third quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.
Eaton Trading Up 0.1 %
Shares of NYSE ETN traded up $0.16 during trading on Monday, hitting $277.69. 953,641 shares of the company traded hands, compared to its average volume of 2,615,577. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $108.79 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a 50-day moving average price of $289.36 and a 200-day moving average price of $327.18. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last announced its quarterly 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 last year, the firm earned $2.55 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid 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 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, March 10th. Eaton's payout ratio is currently 43.79%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on ETN shares. Melius Research reissued a "hold" rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Evercore ISI lowered their price objective 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, Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $355.06.
Read Our Latest Stock Report on ETN
Eaton Profile
(
Free Report)
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.
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