Envestnet Asset Management Inc. lowered its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 769,907 shares of the industrial products company's stock after selling 1,743 shares during the quarter. Envestnet Asset Management Inc. owned about 0.19% of Eaton worth $255,509,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. raised its stake in Eaton by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after acquiring an additional 28 shares during the period. Westmount Partners LLC grew its position in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock worth $327,000 after acquiring an additional 30 shares during the last quarter. Signal Advisors Wealth LLC grew its holdings in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock worth $297,000 after acquiring an additional 30 shares during the last quarter. Lantz Financial LLC grew its position in shares of Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after buying an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in Eaton by 2.0% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock valued at $544,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.
Eaton Stock Up 1.4 %
Shares of ETN stock traded up $3.89 during mid-day trading on Friday, hitting $274.61. The stock had a trading volume of 1,264,511 shares, compared to its average volume of 2,606,983. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm's 50-day moving average is $290.12 and its two-hundred day moving average is $327.58. The firm has a market capitalization of $107.58 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99.
Eaton (NYSE:ETN - Get Free Report) last released its quarterly 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 last year, the business posted $2.55 earnings per share. On average, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.
Eaton Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.51%. The ex-dividend date was Monday, March 10th. Eaton's dividend payout ratio (DPR) is currently 43.79%.
Wall Street Analysts Forecast Growth
ETN has been the topic of several research reports. Melius Research reiterated a "hold" rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. StockNews.com lowered shares of Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Royal Bank of Canada lowered their price objective on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Finally, Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus price target of $355.06.
View Our Latest Stock Analysis on ETN
Eaton Profile
(
Free Report)
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.
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