Sei Investments Co. boosted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 604,449 shares of the industrial products company's stock after purchasing an additional 27,423 shares during the quarter. Sei Investments Co. owned about 0.15% of Eaton worth $200,598,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. increased its stake in Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after acquiring an additional 28 shares during the last quarter. Westmount Partners LLC increased its position in shares of Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC raised its holdings in shares of Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after buying an additional 30 shares in the last quarter. Lantz Financial LLC lifted its position in Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock worth $219,000 after buying an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Eaton by 2.0% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock worth $544,000 after buying an additional 32 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on ETN shares. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Barclays decreased their price objective on Eaton from $325.00 to $315.00 and set an "equal weight" rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com lowered Eaton from a "buy" rating to a "hold" rating in a research note on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $357.16.
Read Our Latest Analysis on Eaton
Eaton Stock Down 4.8 %
Shares of ETN stock traded down $14.40 during midday trading on Wednesday, reaching $285.60. 4,708,463 shares of the stock were exchanged, compared to its average volume of 2,421,231. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm has a market cap of $111.89 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company's 50 day moving average is $309.76 and its two-hundred day moving average is $331.90. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.
Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the business earned $2.55 EPS. On average, equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.
Eaton Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.46%. This is a positive change from Eaton's previous quarterly dividend of $0.94. Eaton's payout ratio is presently 43.79%.
About Eaton
(
Free Report)
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.
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