Eaton Co. plc (NYSE:ETN) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,744,691 shares of the industrial products company's stock after purchasing an additional 323,065 shares during the quarter. Franklin Resources Inc. owned approximately 0.69% of Eaton worth $910,881,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new stake in Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after buying an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in Eaton during the third quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the 4th quarter valued at $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Down 8.1 %

Shares of NYSE ETN traded down $23.10 during trading on Thursday, reaching $260.74. 5,547,972 shares of the stock were exchanged, compared to its average volume of 2,563,731. The business's 50-day moving average price is $301.05 and its 200 day moving average price is $330.91. The company has a market capitalization of $102.15 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

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Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 period in the prior year, the company earned $2.55 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.60%. This is an increase from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton's dividend payout ratio (DPR) is 43.79%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETN. Barclays lowered their price objective on Eaton from $325.00 to $315.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $348.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company cut their price objective on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Melius Research reaffirmed a "hold" rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Evercore ISI decreased their price target on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Eight research 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 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.