Eaton Co. plc (NYSE:ETN) Shares Purchased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,004 shares of the industrial products company’s stock after buying an additional 85 shares during the period. Prestige Wealth Management Group LLC’s holdings in Eaton were worth $665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in Eaton during the 4th quarter valued at approximately $30,000. Groupama Asset Managment increased its holdings in Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of Eaton in the third quarter worth $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ETN. JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada decreased their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Eight 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, Eaton has a consensus rating of “Moderate Buy” and an average price target of $357.68.

Eaton Trading Up 2.7 %

ETN opened at $303.41 on Tuesday. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The stock 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. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $310.56 and a two-hundred day moving average price of $331.79.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 period in the previous year, the business earned $2.55 EPS. 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 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.