NewEdge Advisors LLC Has $33.70 Million Holdings in Eaton Co. plc (NYSE:ETN)

NewEdge Advisors LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 101,547 shares of the industrial products company's stock after purchasing an additional 1,962 shares during the period. NewEdge Advisors LLC's holdings in Eaton were worth $33,700,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the 4th quarter worth $30,000. Horizon Bancorp Inc. IN raised its stake in Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new position in shares of Eaton during the third quarter worth $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Eaton during the fourth quarter valued at about $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Down 4.1 %

ETN traded down $10.88 during trading on Monday, hitting $257.44. The company had a trading volume of 1,057,194 shares, compared to its average volume of 2,625,283. The company has a market cap of $100.86 billion, a PE ratio of 27.10, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The business has a 50-day moving average of $284.95 and a 200-day moving average of $325.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

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, 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 in the previous year, the firm posted $2.55 EPS. As a group, analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.62%. Eaton's dividend payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ETN shares. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada dropped their price objective on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. KeyCorp dropped their target price on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Melius Research reiterated a "hold" rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Finally, Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $350.22.

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.