3,370 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Kane Investment Management Inc.

Kane Investment Management Inc. bought a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,370 shares of the industrial products company's stock, valued at approximately $1,118,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the 4th quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the fourth quarter worth approximately $30,000. Horizon Bancorp Inc. IN grew its position 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 acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton during the third quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ETN. Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Barclays decreased their target price on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Royal Bank of Canada dropped their price target on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. KeyCorp lowered their price objective on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company cut their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.

Eaton Stock Down 0.4 %

Shares of ETN traded down $1.01 during trading hours on Friday, hitting $268.15. The company had a trading volume of 2,539,573 shares, compared to its average volume of 2,631,204. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $105.05 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The company's fifty day moving average price is $284.95 and its two-hundred day moving average price is $325.22.

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 (EPS) 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 period last year, the company earned $2.55 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.55%. The ex-dividend date was Monday, March 10th. This is an increase from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio (DPR) is currently 43.79%.

Eaton 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.