Sandy Spring Bank Has $12.56 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Sandy Spring Bank boosted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,835 shares of the industrial products company's stock after acquiring an additional 1,536 shares during the period. Sandy Spring Bank's holdings in Eaton were worth $12,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ETN. United Bank acquired a new stake in Eaton during the 3rd quarter worth approximately $258,000. GSA Capital Partners LLP acquired a new stake in shares of Eaton during the third quarter worth $295,000. Thrivent Financial for Lutherans lifted its position in Eaton by 38.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 80,187 shares of the industrial products company's stock valued at $26,576,000 after acquiring an additional 22,367 shares in the last quarter. Aviance Capital Partners LLC boosted its stake in Eaton by 1.7% in the 3rd quarter. Aviance Capital Partners LLC now owns 2,026 shares of the industrial products company's stock worth $671,000 after purchasing an additional 34 shares during the period. Finally, Caprock Group LLC increased its holdings in Eaton by 50.0% during the 3rd quarter. Caprock Group LLC now owns 10,976 shares of the industrial products company's stock worth $3,638,000 after purchasing an additional 3,660 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research reports. Barclays reduced their price objective on Eaton from $353.00 to $325.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. KeyCorp raised Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Royal Bank of Canada lowered their price objective on shares of Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Citigroup reduced their target price on shares of Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, StockNews.com lowered shares of Eaton from a "buy" rating to a "hold" rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $357.68.

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Eaton Stock Performance

Shares of NYSE:ETN traded up $7.97 during trading on Monday, reaching $303.41. 2,895,867 shares of the stock were exchanged, compared to its average volume of 2,406,472. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The stock has a 50-day moving average price of $311.30 and a 200-day moving average price of $331.67. 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 firm has a market cap of $118.87 billion, a PE ratio of 31.94, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 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 period last year, the business posted $2.55 EPS. Research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.37%. This is an increase from Eaton's previous quarterly dividend of $0.94. 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.