Whittier Trust Co. Grows Stock Position in Eaton Co. plc (NYSE:ETN)

Whittier Trust Co. increased its position in Eaton Co. plc (NYSE:ETN - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,733 shares of the industrial products company's stock after purchasing an additional 1,011 shares during the quarter. Eaton makes up 1.1% of Whittier Trust Co.'s portfolio, making the stock its 14th biggest position. Whittier Trust Co. owned 0.06% of Eaton worth $84,203,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter valued at about $30,000. Horizon Bancorp Inc. IN lifted its holdings in 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 purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new stake in Eaton in the 3rd quarter valued at about $33,000. Finally, Activest Wealth Management boosted its stake in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company's stock valued at $34,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Melius Research reissued a "hold" rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. Jefferies Financial Group dropped their price objective on shares of Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, KeyCorp upgraded Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 target price for the company in a research report on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $357.68.

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Eaton Stock Performance

ETN traded up $7.97 on Monday, reaching $303.41. 2,895,867 shares of the stock were exchanged, compared to its average volume of 2,406,476. The company's 50-day moving average price is $310.56 and its 200 day moving average price is $331.79. 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 $118.87 billion, a PE ratio of 31.94, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced 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 quarter in the prior year, the company posted $2.55 EPS. As a group, sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Eaton's previous quarterly dividend of $0.94. Eaton's dividend payout ratio is presently 43.79%.

Eaton Company 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.