Mizuho Securities USA LLC Increases Holdings in Eaton Co. plc (NYSE:ETN)

Mizuho Securities USA LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 45.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,456 shares of the industrial products company's stock after acquiring an additional 11,641 shares during the period. Mizuho Securities USA LLC's holdings in Eaton were worth $12,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton during the 4th quarter worth about $30,000. Groupama Asset Managment grew its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% during the fourth 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 in the last quarter. Finally, Morse Asset Management Inc acquired a new position in Eaton during the third quarter valued at approximately $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ETN shares. Citigroup cut their price objective on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday, January 13th. Melius downgraded shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Melius Research restated a "hold" rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Jefferies Financial Group reduced their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their price objective 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. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $357.16.

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Eaton Price Performance

ETN traded down $14.40 during midday trading on Wednesday, hitting $285.60. The stock had a trading volume of 4,708,463 shares, compared to its average volume of 2,421,231. The company has a market cap of $111.89 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The business has a fifty day moving average of $309.76 and a 200 day moving average of $331.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm earned $2.55 earnings per share. 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 company 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 dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. Eaton's payout ratio is currently 43.79%.

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.