Haverford Trust Co lowered its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,816 shares of the industrial products company's stock after selling 1,052 shares during the quarter. Eaton comprises approximately 1.3% of Haverford Trust Co's investment portfolio, making the stock its 26th biggest position. Haverford Trust Co owned about 0.10% of Eaton worth $126,713,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% during 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 period. Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter worth approximately $33,000. Finally, Activest Wealth Management boosted its position in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock worth $34,000 after acquiring an additional 87 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on ETN shares. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. StockNews.com downgraded Eaton from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Melius Research reiterated a "hold" rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Royal Bank of Canada dropped their target price on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Barclays decreased their price target on shares of Eaton from $325.00 to $315.00 and set an "equal weight" rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $357.16.
Read Our Latest Stock Report on Eaton
Eaton Trading Down 2.4 %
ETN stock traded down $6.86 during trading on Friday, hitting $274.05. The company had a trading volume of 3,254,157 shares, compared to its average volume of 2,537,860. 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 Co. plc has a one year low of $255.65 and a one year high of $379.99. The business has a 50-day moving average of $305.90 and a 200-day moving average of $331.12. The stock has a market cap of $107.37 billion, a PE ratio of 28.85, a PEG ratio of 2.64 and a beta of 1.09.
Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 in the previous year, the firm earned $2.55 earnings per share. Research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.
Eaton Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. This is an increase from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton's 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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