Marietta Investment Partners LLC Purchases 2,503 Shares of Eaton Co. plc (NYSE:ETN)

Marietta Investment Partners LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,491 shares of the industrial products company's stock after purchasing an additional 2,503 shares during the quarter. Eaton makes up about 2.0% of Marietta Investment Partners LLC's portfolio, making the stock its 13th largest holding. Marietta Investment Partners LLC's holdings in Eaton were worth $9,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Umpqua Bank increased its holdings in shares of Eaton by 2.2% during the fourth quarter. Umpqua Bank now owns 2,191 shares of the industrial products company's stock worth $745,000 after buying an additional 48 shares in the last quarter. Sei Investments Co. increased its holdings in Eaton by 4.8% in the 4th quarter. Sei Investments Co. now owns 604,449 shares of the industrial products company's stock worth $200,598,000 after purchasing an additional 27,423 shares in the last quarter. Vestor Capital LLC increased its holdings in Eaton by 0.6% in the 4th quarter. Vestor Capital LLC now owns 12,502 shares of the industrial products company's stock worth $4,149,000 after purchasing an additional 76 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of Eaton during the fourth quarter valued at about $78,000. Finally, Mizuho Securities USA LLC grew its holdings in shares of Eaton by 45.1% during the fourth quarter. Mizuho Securities USA LLC now owns 37,456 shares of the industrial products company's stock worth $12,431,000 after purchasing an additional 11,641 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

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Eaton Stock Down 4.8 %

ETN stock traded down $14.40 during midday trading on Wednesday, reaching $285.60. 4,708,463 shares of the company's stock traded hands, compared to its average volume of 2,421,231. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm's fifty day moving average price is $309.76 and its 200-day moving average price is $331.90. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a market cap of $111.89 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 period last year, the firm posted $2.55 EPS. As a group, sell-side analysts forecast 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 issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.46%. This is an increase from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio is 43.79%.

Analysts Set New Price Targets

Several research firms recently commented on ETN. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Barclays reduced their price objective on shares of Eaton from $325.00 to $315.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company decreased their price target on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Finally, Melius Research restated a "hold" rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $357.16.

About Eaton

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.