Synovus Financial Corp Buys 1,647 Shares of Eaton Co. plc (NYSE:ETN)

Synovus Financial Corp raised its position in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,679 shares of the industrial products company's stock after acquiring an additional 1,647 shares during the period. Synovus Financial Corp's holdings in Eaton were worth $14,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Morse Asset Management Inc bought a new position in shares of Eaton in the 3rd quarter worth $33,000. Wellington Management Group LLP raised its holdings in shares of Eaton by 74.6% in the third quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company's stock worth $9,299,000 after buying an additional 11,992 shares during the last quarter. Bard Financial Services Inc. acquired a new position in shares of Eaton in the 3rd quarter valued at $255,000. Advisory Resource Group grew its stake in Eaton by 10.9% during the 3rd 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. Finally, Chelsea Counsel Co. raised its position in Eaton by 29.4% during the 3rd quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company's stock worth $73,000 after buying an additional 50 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ETN. JPMorgan Chase & Co. reduced their price target on Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com raised shares of Eaton from a "hold" rating to a "buy" rating in a research note on Monday. KeyCorp cut their price target on Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Barclays decreased their price objective on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating on the stock in a report on Friday, April 4th. Finally, Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $350.22.

Eaton Stock Down 0.4 %

ETN traded down $1.01 during midday trading on Friday, hitting $268.15. 2,539,573 shares of the company's stock traded hands, compared to its average volume of 2,629,939. The stock's fifty day simple moving average is $285.92 and its 200-day simple moving average is $325.65. 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 Co. plc has a one year low of $231.85 and a one year high of $379.99. The company has a market cap of $105.05 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter in the prior year, the business posted $2.55 earnings per share. As a group, equities analysts anticipate 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 given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Eaton's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. Eaton's dividend payout ratio (DPR) is presently 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.