Legacy Financial Advisors Inc. Has $834,000 Position in Eaton Co. plc (NYSE:ETN)

Legacy Financial Advisors Inc. grew its position in Eaton Co. plc (NYSE:ETN) by 11.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,513 shares of the industrial products company’s stock after purchasing an additional 258 shares during the period. Legacy Financial Advisors Inc.’s holdings in Eaton were worth $834,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Redwood Park Advisors LLC bought a new position in Eaton in the 4th quarter valued at $87,000. Scotia Capital Inc. raised its holdings in shares of Eaton by 3.8% in the fourth quarter. Scotia Capital Inc. now owns 45,660 shares of the industrial products company’s stock valued at $15,155,000 after buying an additional 1,664 shares during the last quarter. Phoenix Financial Ltd. lifted its position in Eaton by 1,197.6% during the 4th quarter. Phoenix Financial Ltd. now owns 139,626 shares of the industrial products company’s stock worth $46,338,000 after buying an additional 128,866 shares in the last quarter. F M Investments LLC grew its holdings in Eaton by 7.4% during the 4th quarter. F M Investments LLC now owns 37,823 shares of the industrial products company’s stock worth $12,552,000 after acquiring an additional 2,605 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in Eaton in the 4th quarter valued at about $424,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI decreased 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 note on Wednesday, February 19th. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Barclays dropped their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Finally, Royal Bank of Canada reduced their target price 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. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $355.06.

Eaton Stock Performance

Shares of Eaton stock opened at $271.00 on Friday. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. 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 company has a market capitalization of $106.17 billion, a PE ratio of 28.53, a PEG ratio of 2.64 and a beta of 1.09. The stock’s fifty day simple moving average is $290.12 and its 200 day simple moving average is $327.58.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter in the previous year, the firm posted $2.55 EPS. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.54%. Eaton’s dividend payout ratio 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.