Haverford Financial Services Inc. Has $10.69 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Haverford Financial Services Inc. cut its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,211 shares of the industrial products company's stock after selling 1,603 shares during the period. Eaton makes up approximately 3.3% of Haverford Financial Services Inc.'s holdings, making the stock its 14th biggest position. Haverford Financial Services Inc.'s holdings in Eaton were worth $10,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. raised its holdings in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after purchasing an additional 28 shares during the last quarter. Westmount Partners LLC increased its stake in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock valued at $327,000 after buying an additional 30 shares during the last quarter. Signal Advisors Wealth LLC lifted its position in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock worth $297,000 after buying an additional 30 shares in the last quarter. Lantz Financial LLC boosted its stake in shares of Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock worth $219,000 after buying an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock valued at $544,000 after acquiring an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group dropped their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Barclays cut their price objective on Eaton from $325.00 to $315.00 and set an "equal weight" rating for the company in a report on Wednesday. StockNews.com lowered shares of Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. KeyCorp raised shares of Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price objective for the company in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their target price on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and an average price target of $357.16.

Eaton Stock Performance

NYSE:ETN traded down $4.48 during mid-day trading on Thursday, reaching $281.04. 3,454,716 shares of the company's stock were exchanged, compared to its average volume of 2,428,180. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $110.10 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business's fifty day simple moving average is $307.35 and its two-hundred day simple moving average is $331.22.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 period in the prior year, the business earned $2.55 earnings per share. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio (DPR) is presently 43.79%.

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.