Fox Hill Wealth Management purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,028 shares of the industrial products company's stock, valued at approximately $1,337,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brooklyn FI LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $427,000. Xponance Inc. grew its position in shares of Eaton by 5.0% during the fourth quarter. Xponance Inc. now owns 59,646 shares of the industrial products company's stock worth $19,795,000 after purchasing an additional 2,854 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Eaton during the fourth quarter worth about $8,510,000. Evoke Wealth LLC grew its position in shares of Eaton by 21.3% during the fourth quarter. Evoke Wealth LLC now owns 1,235 shares of the industrial products company's stock worth $410,000 after purchasing an additional 217 shares in the last quarter. Finally, Horizon Investments LLC grew its position in shares of Eaton by 33.5% during the fourth quarter. Horizon Investments LLC now owns 16,250 shares of the industrial products company's stock worth $5,393,000 after purchasing an additional 4,082 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Melius Research reissued a "hold" rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Barclays dropped their price target on Eaton from $353.00 to $325.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada lowered their price objective on Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Evercore ISI lowered their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $357.68.
Get Our Latest Stock Report on Eaton
Eaton Trading Up 0.1 %
ETN traded up $0.35 during trading on Friday, hitting $295.88. 3,188,236 shares of the stock were exchanged, compared to its average volume of 2,404,510. The firm has a 50 day simple moving average of $311.30 and a 200 day simple moving average of $331.37. The firm has a market cap of $115.92 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. 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 (NYSE:ETN - Get Free Report) last released 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the company posted $2.55 EPS. As a group, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date is Monday, March 10th. This is an increase from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.41%. Eaton's dividend payout ratio (DPR) is currently 43.79%.
Eaton Company Profile
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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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