Federated Hermes Inc. Buys 4,296 Shares of Eaton Co. plc (NYSE:ETN)

Federated Hermes Inc. grew its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,520 shares of the industrial products company's stock after buying an additional 4,296 shares during the quarter. Federated Hermes Inc. owned 0.10% of Eaton worth $132,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ETN. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in Eaton during the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% in the fourth 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 period. Morse Asset Management Inc bought a new stake in shares of Eaton during the 3rd quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton in the 4th quarter worth $33,000. Institutional investors own 82.97% of the company's stock.

Eaton Trading Up 1.5 %

NYSE ETN traded up $4.17 during trading hours on Friday, hitting $274.89. 1,512,314 shares of the company were exchanged, compared to its average volume of 2,607,500. The stock has a market cap of $107.69 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The stock has a 50-day moving average price of $290.12 and a 200 day moving average price of $327.58. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Remove Ads

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data 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 quarter last year, the business earned $2.55 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $1.04 per share. This is a boost from Eaton's previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.51%. Eaton's dividend payout ratio is currently 43.79%.

Analyst Ratings Changes

Several research firms have issued reports on ETN. Evercore ISI cut their price target on 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 target price on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a report on Tuesday. Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada dropped their price target on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, Melius Research restated a "hold" rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $355.06.

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.