First Washington CORP Invests $3.96 Million in Eaton Co. plc (NYSE:ETN)

First Washington CORP bought a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,922 shares of the industrial products company's stock, valued at approximately $3,957,000. Eaton comprises approximately 1.4% of First Washington CORP's portfolio, making the stock its 29th biggest holding.

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

Eaton Price Performance

ETN stock traded up $9.92 on Thursday, hitting $285.58. 1,267,379 shares of the company's stock traded hands, compared to its average volume of 3,718,531. The stock has a market cap of $111.88 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The stock has a fifty day moving average of $282.46 and a 200-day moving average of $323.96. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping 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 previous year, the business posted $2.55 EPS. On average, analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's payout ratio is 43.79%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada reduced 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. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.22.

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.