Petros Family Wealth LLC Buys New Stake in Eaton Co. plc (NYSE:ETN)

Petros Family Wealth LLC purchased a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,329 shares of the industrial products company's stock, valued at approximately $441,000.

Other hedge funds also recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in Eaton during the 4th quarter worth $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton during the fourth quarter valued at about $30,000. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new position in Eaton in the 3rd quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the 4th quarter valued at about $33,000. Institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ETN shares. JPMorgan Chase & Co. decreased their price objective on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. StockNews.com upgraded Eaton from a "hold" rating to a "buy" rating in a research report on Monday. Evercore ISI cut their price objective on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company cut their price target on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $350.22.

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Eaton Stock Down 0.3 %

Shares of NYSE:ETN traded down $0.80 during trading on Tuesday, reaching $277.03. 2,216,233 shares of the company traded hands, compared to its average volume of 2,621,164. The firm has a fifty day simple moving average of $288.60 and a 200 day simple moving average of $326.82. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The firm has a market cap of $108.53 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

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 (EPS) 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 in the previous year, the business earned $2.55 earnings per share. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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 represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio 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.