Stifel Financial Corp Sells 37,318 Shares of Eaton Co. plc (NYSE:ETN)

Stifel Financial Corp lessened its stake in Eaton Co. plc (NYSE:ETN) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,374,873 shares of the industrial products company’s stock after selling 37,318 shares during the quarter. Stifel Financial Corp’s holdings in Eaton were worth $456,302,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in Eaton during the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new position in Eaton during the fourth quarter worth about $30,000. Horizon Bancorp Inc. IN grew 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 in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ETN. Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their price objective 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. Finally, StockNews.com upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $350.22.

Eaton Price Performance

Eaton stock opened at $268.15 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The firm has a market capitalization of $105.05 billion, a P/E ratio of 28.23, a PEG ratio of 2.64 and a beta of 1.09. The business has a fifty day moving average price of $284.95 and a 200-day moving average price of $325.21.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $2.55 earnings per share. As a group, equities research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.55%. Eaton’s dividend payout ratio 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.