Fayez Sarofim & Co Grows Holdings in Eaton Co. plc (NYSE:ETN)

Fayez Sarofim & Co lifted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2,269.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,247 shares of the industrial products company's stock after acquiring an additional 139,116 shares during the quarter. Fayez Sarofim & Co's holdings in Eaton were worth $48,203,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the fourth quarter worth $30,000. Horizon Bancorp Inc. IN increased its holdings in Eaton by 321.7% in the fourth 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 during the period. Morse Asset Management Inc acquired a new position in Eaton during the 3rd quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the fourth quarter valued at about $33,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

ETN stock traded up $11.73 during midday trading on Thursday, reaching $287.39. 2,751,088 shares of the company's stock traded hands, compared to its average volume of 2,629,968. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The company has a 50-day moving average price of $282.46 and a two-hundred day moving average price of $323.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $112.59 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last issued its 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 period in the prior year, the company posted $2.55 earnings per share. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.45%. Eaton's payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Melius Research reiterated a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group lowered their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada decreased their price target on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. StockNews.com downgraded Eaton from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, KeyCorp decreased their target price on Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $350.22.

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.