Ceeto Capital Group LLC Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Ceeto Capital Group LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 56.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,773 shares of the industrial products company's stock after acquiring an additional 1,000 shares during the quarter. Ceeto Capital Group LLC's holdings in Eaton were worth $920,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new stake in Eaton during the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN boosted its position in 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 buying an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Eaton in the fourth quarter worth $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE:ETN traded down $0.80 during trading hours on Tuesday, reaching $277.03. 2,216,233 shares of the company's stock were exchanged, compared to its average volume of 2,621,164. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. 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 $108.53 billion, a price-to-earnings ratio of 29.16, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a 50-day moving average of $288.60 and a 200 day moving average of $326.82.

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Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company earned $2.55 EPS. Research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, March 10th. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio is 43.79%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ETN shares. Barclays decreased their target price on Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Evercore ISI cut their target price 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. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup lowered their price target on shares of Eaton from $396.00 to $323.00 and set a "buy" rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $350.22.

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.