Bank of Montreal Can Purchases 4,990 Shares of Eaton Co. plc (NYSE:ETN)

Bank of Montreal Can boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 500,934 shares of the industrial products company’s stock after buying an additional 4,990 shares during the period. Bank of Montreal Can’s holdings in Eaton were worth $166,245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN raised its position in Eaton by 321.7% in 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 acquired a new position in Eaton during the 3rd quarter worth $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the 4th quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Up 2.5 %

ETN stock opened at $252.67 on Tuesday. The stock’s 50 day simple moving average is $295.28 and its 200 day simple moving average is $329.70. The company has a market cap of $98.99 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the company earned $2.55 earnings per share. On average, research analysts expect 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 1.65%. This is an increase 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 is presently 43.79%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ETN shares. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Wells Fargo & Company reduced their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research note on Wednesday, March 12th. Royal Bank of Canada reduced their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $356.68.

About Eaton

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.