Eaton Co. plc (NYSE:ETN) Shares Acquired by Foster Dykema Cabot & Partners LLC

Foster Dykema Cabot & Partners LLC raised its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,555 shares of the industrial products company's stock after purchasing an additional 4,831 shares during the period. Eaton makes up approximately 2.2% of Foster Dykema Cabot & Partners LLC's holdings, making the stock its 13th largest holding. Foster Dykema Cabot & Partners LLC's holdings in Eaton were worth $28,725,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN increased 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 purchased a new stake in Eaton in the third quarter worth $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Eaton in the 4th quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ETN shares. Evercore ISI lowered their price objective on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. KeyCorp dropped their target price on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup decreased their price objective on Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Melius Research restated a "hold" rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $350.22.

Eaton Stock Up 3.1 %

ETN stock traded up $8.14 on Tuesday, hitting $267.61. 489,025 shares of the company's stock were exchanged, compared to its average volume of 2,623,782. The firm has a 50 day moving average price of $283.94 and a two-hundred day moving average price of $324.69. 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 Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99. The stock has a market cap of $104.84 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

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 (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 previous year, the business earned $2.55 earnings per share. As a group, equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. Eaton's dividend payout ratio is presently 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.