1,673 Shares in Eaton Co. plc (NYSE:ETN) Acquired by PKS Advisory Services LLC

PKS Advisory Services LLC bought a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,673 shares of the industrial products company’s stock, valued at approximately $556,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its stake in Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares in the last quarter. Lighthouse Wealth Management Inc. purchased a new stake in Eaton in the fourth quarter valued at approximately $297,000. Webster Bank N. A. increased its holdings in Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after buying an additional 6,166 shares during the period. Ballentine Partners LLC raised its position in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after buying an additional 790 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 1,694 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ETN shares. StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Citigroup decreased their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Jefferies Financial Group reduced their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Evercore ISI lowered their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $357.68.

Eaton Stock Down 0.9 %

NYSE ETN opened at $300.11 on Wednesday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The business has a fifty day moving average price of $309.76 and a 200 day moving average price of $331.90. The company has a market cap of $117.57 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the company earned $2.55 EPS. Research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 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.