Defined Financial Planning LLC Takes $335,000 Position in Eaton Co. plc (NYSE:ETN)

Defined Financial Planning LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,009 shares of the industrial products company's stock, valued at approximately $335,000.

A number of other large investors have also recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of Eaton in the 4th quarter valued at $1,239,000. Strategies Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at about $394,000. Mariner LLC boosted its holdings in Eaton by 4.2% during the 4th quarter. Mariner LLC now owns 340,747 shares of the industrial products company's stock valued at $113,087,000 after acquiring an additional 13,715 shares during the period. SageView Advisory Group LLC grew its position in Eaton by 156.3% in the 4th quarter. SageView Advisory Group LLC now owns 5,966 shares of the industrial products company's stock valued at $1,980,000 after acquiring an additional 3,638 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Eaton by 3.9% during the fourth quarter. Synovus Financial Corp now owns 43,679 shares of the industrial products company's stock worth $14,497,000 after purchasing an additional 1,647 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on ETN shares. JPMorgan Chase & Co. dropped 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. Melius Research reaffirmed a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Royal Bank of Canada dropped their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Citigroup lowered their target price on shares of Eaton from $396.00 to $323.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company dropped their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.

Eaton Stock Performance

NYSE:ETN traded down $1.01 during mid-day trading on Friday, reaching $268.15. The stock had a trading volume of 2,539,573 shares, compared to its average volume of 2,633,017. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The business has a 50 day simple moving average of $284.95 and a 200 day simple moving average of $325.24. The firm has a market capitalization of $105.05 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 firm earned $2.55 EPS. On average, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. The ex-dividend date was Monday, March 10th. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. Eaton's dividend payout ratio (DPR) is 43.79%.

Eaton Company 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.