LPL Financial LLC Purchases 52,547 Shares of Eaton Co. plc (NYSE:ETN)

LPL Financial LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 540,761 shares of the industrial products company's stock after purchasing an additional 52,547 shares during the quarter. LPL Financial LLC owned approximately 0.14% of Eaton worth $179,708,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC bought a new stake in Eaton during the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter valued at approximately $30,000. Groupama Asset Managment raised its stake in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after buying an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc bought a new stake in Eaton during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ETN shares. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Evercore ISI dropped their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Melius Research reaffirmed a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, KeyCorp upgraded Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price target for the company in a research note on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus price target of $357.16.

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Eaton Price Performance

Shares of Eaton stock traded down $6.86 during midday trading on Friday, hitting $274.05. 3,254,157 shares of the company traded hands, compared to its average volume of 2,537,858. The stock has a market cap of $107.37 billion, a price-to-earnings ratio of 28.85, 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. The firm's fifty day moving average price is $305.90 and its 200-day moving average price is $331.12. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the firm posted $2.55 EPS. As a group, sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This is an increase from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.52%. 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.