Thrivent Financial for Lutherans Has $28.24 Million Position in Eaton Co. plc (NYSE:ETN)

Thrivent Financial for Lutherans grew its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 82,607 shares of the industrial products company's stock after acquiring an additional 2,420 shares during the period. Thrivent Financial for Lutherans' holdings in Eaton were worth $28,235,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. United Bank acquired a new stake in Eaton during the 3rd quarter worth about $258,000. GSA Capital Partners LLP acquired a new stake in shares of Eaton during the third quarter valued at approximately $295,000. Prospera Private Wealth LLC lifted its position in shares of Eaton by 4.8% in the 3rd quarter. Prospera Private Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after acquiring an additional 41 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Eaton in the 3rd quarter worth approximately $6,632,000. Finally, Howe & Rusling Inc. grew its position in Eaton by 8.4% during the 3rd quarter. Howe & Rusling Inc. now owns 900 shares of the industrial products company's stock worth $298,000 after purchasing an additional 70 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Stock Performance

Eaton stock traded down $2.73 during trading hours on Tuesday, reaching $300.11. 3,393,900 shares of the company were exchanged, compared to its average volume of 2,406,297. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm has a market cap of $117.57 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.64 and a beta of 1.09. 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 stock has a 50-day moving average of $310.56 and a 200 day moving average of $331.79.

Remove Ads

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

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays decreased their target price on Eaton from $353.00 to $325.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. 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 report on Wednesday, March 12th. Wells Fargo & Company reduced their price target on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Melius Research reaffirmed a "hold" rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group cut their target price 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. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $357.68.

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.