Guardian Partners Inc. bought a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,563 shares of the industrial products company's stock, valued at approximately $885,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton during the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in Eaton during the fourth quarter valued at approximately $30,000. Groupama Asset Managment grew its holdings in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in Eaton by 321.7% in 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. Finally, Morse Asset Management Inc purchased a new stake in shares of Eaton during the 3rd quarter worth approximately $33,000. 82.97% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ETN. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday, January 13th. Melius Research restated a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. 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 research report on Tuesday, January 28th. StockNews.com cut Eaton from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Barclays lowered their price objective on Eaton from $325.00 to $315.00 and set an "equal weight" rating for the company in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Eaton has an average rating of "Moderate Buy" and a consensus target price of $357.16.
Get Our Latest Stock Report on Eaton
Eaton Trading Down 1.6 %
ETN stock traded down $4.48 during trading on Thursday, hitting $281.04. The company had a trading volume of 3,454,716 shares, compared to its average volume of 2,428,180. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a 50 day simple moving average of $307.35 and a 200-day simple moving average of $331.22. The firm has a market capitalization of $110.10 billion, a P/E ratio of 29.58, a PEG ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 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 EPS for the quarter, topping analysts' consensus estimates 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 firm earned $2.55 EPS. As a group, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.
Eaton Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.48%. This is a boost from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton's dividend payout ratio is currently 43.79%.
About Eaton
(
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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