CIBC Private Wealth Group LLC Buys 5,314 Shares of Eaton Co. plc (NYSE:ETN)

CIBC Private Wealth Group LLC boosted its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 19.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,716 shares of the industrial products company's stock after buying an additional 5,314 shares during the period. CIBC Private Wealth Group LLC's holdings in Eaton were worth $11,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its holdings in Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company's stock worth $13,533,000 after purchasing an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. bought a new position in shares of Eaton in the 4th quarter worth about $297,000. Webster Bank N. A. lifted its position in Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock valued at $5,949,000 after acquiring an additional 6,166 shares during the period. Ballentine Partners LLC boosted its stake in Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after acquiring an additional 790 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after purchasing an additional 1,694 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. KeyCorp upgraded Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price objective for the company in a research note on Wednesday, March 12th. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. StockNews.com downgraded Eaton from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Melius Research reiterated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Eight 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 price target of $357.16.

Eaton Price Performance

Eaton stock traded down $23.10 during mid-day trading on Thursday, hitting $260.74. The stock had a trading volume of 5,551,734 shares, compared to its average volume of 2,563,746. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm's 50 day moving average is $301.05 and its 200 day moving average is $330.91. The firm has a market capitalization of $102.15 billion, a P/E ratio of 27.45, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 firm posted $2.55 EPS. On average, sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company 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 represents a $4.16 annualized dividend and a yield of 1.60%. 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 (DPR) is currently 43.79%.

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.