Treasurer of the State of North Carolina trimmed its position in Eaton Co. plc (NYSE:ETN - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,625 shares of the industrial products company's stock after selling 910 shares during the period. Treasurer of the State of North Carolina's holdings in Eaton were worth $57,621,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton in the fourth quarter valued at $30,000. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in Eaton during the third quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Eaton in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on ETN shares. Citigroup reduced their price target on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research report on Monday. Evercore ISI lowered their price target on Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Barclays reduced their price objective 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 issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Finally, StockNews.com raised Eaton from a "hold" rating to a "buy" rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average target price of $350.22.
Read Our Latest Analysis on ETN
Eaton Stock Performance
Shares of ETN stock traded down $1.68 during trading hours on Tuesday, reaching $276.15. The stock had a trading volume of 1,060,960 shares, compared to its average volume of 2,616,122. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market capitalization of $108.19 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm has a 50-day simple moving average of $288.60 and a 200-day simple moving average of $326.82.
Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results 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 quarter last year, the business earned $2.55 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.
Eaton Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.51%. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's payout ratio is currently 43.79%.
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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