Stenger Family Office LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,784 shares of the industrial products company's stock, valued at approximately $2,915,000. Eaton makes up approximately 1.0% of Stenger Family Office LLC's investment portfolio, making the stock its 26th largest holding.
Other large investors have also bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in shares of Eaton in the 3rd quarter valued at approximately $33,000. Bard Financial Services Inc. bought a new stake in shares of Eaton in the third quarter valued at about $255,000. Advisory Resource Group raised its holdings in shares of Eaton by 10.9% in the third quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company's stock valued at $1,444,000 after purchasing an additional 428 shares during the last quarter. Chelsea Counsel Co. increased its stake in Eaton by 29.4% in the 3rd quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company's stock valued at $73,000 after buying an additional 50 shares during the last quarter. Finally, Tudor Financial Inc. bought a new stake in Eaton during the third quarter worth about $265,000. Institutional investors own 82.97% of the company's stock.
Eaton Trading Down 4.6 %
ETN stock traded down $12.46 during midday trading on Monday, hitting $255.86. The stock had a trading volume of 971,718 shares, compared to its average volume of 2,624,896. 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 business has a fifty day moving average price of $284.95 and a two-hundred day moving average price of $325.21. 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 $100.24 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.
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 (EPS) for the quarter, beating 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 last year, the firm earned $2.55 EPS. On average, sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.
Eaton Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio (DPR) is 43.79%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ETN. Jefferies Financial Group lowered their target price on shares of Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price target on Eaton from $350.00 to $289.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Barclays dropped their price target on Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a research note on Friday, April 4th. Melius Research reiterated a "hold" rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Finally, StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and an average target price of $350.22.
Check Out Our Latest Stock Analysis on Eaton
Eaton Company Profile
(
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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