F M Investments LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 7.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,823 shares of the industrial products company's stock after purchasing an additional 2,605 shares during the period. F M Investments LLC's holdings in Eaton were worth $12,552,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of ETN. Flagship Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new position in Eaton during the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new stake in Eaton in the 3rd quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter worth about $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.
Eaton Stock Down 0.4 %
Shares of ETN stock traded down $0.99 on Tuesday, hitting $276.84. 976,927 shares of the stock were exchanged, compared to its average volume of 2,615,779. 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 firm has a market capitalization of $108.46 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The business has a 50-day moving average of $288.60 and a 200 day moving average of $326.82.
Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the company earned $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. Eaton's payout ratio is presently 43.79%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ETN. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Monday. Citigroup cut their price target on Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Jefferies Financial Group lowered their price target 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. Finally, Barclays lowered their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $350.22.
Get Our Latest Report on ETN
About Eaton
(
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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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