Cyrus J. Lawrence LLC Invests $8.11 Million in Eaton Co. plc (NYSE:ETN)

Cyrus J. Lawrence LLC bought a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 24,452 shares of the industrial products company's stock, valued at approximately $8,114,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in Eaton during the 4th quarter worth approximately $3,164,000. Sciencast Management LP raised its holdings in Eaton by 4.2% in the 4th quarter. Sciencast Management LP now owns 8,784 shares of the industrial products company's stock valued at $2,915,000 after acquiring an additional 355 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of Eaton in the fourth quarter worth $277,000. Mindset Wealth Management LLC grew its stake in Eaton by 38.0% during the fourth quarter. Mindset Wealth Management LLC now owns 1,090 shares of the industrial products company's stock worth $362,000 after buying an additional 300 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Eaton during the 4th quarter worth approximately $107,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 4.8 %

Shares of ETN stock traded down $14.40 on Wednesday, hitting $285.60. The stock had a trading volume of 4,708,463 shares, compared to its average volume of 2,421,231. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business has a 50 day moving average price of $309.76 and a 200 day moving average price of $331.90. The company has a market cap of $111.89 billion, a PE ratio of 30.06, a P/E/G ratio of 2.64 and a beta of 1.09.

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

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.46%. This is an increase from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton's dividend payout ratio (DPR) is 43.79%.

Analyst Ratings Changes

Several brokerages recently weighed in on ETN. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Barclays lowered their price objective on shares of Eaton from $325.00 to $315.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Melius Research reaffirmed a "hold" rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $357.16.

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.