Titleist Asset Management LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Titleist Asset Management LLC grew its stake in Eaton Co. plc (NYSE:ETN) by 49.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,302 shares of the industrial products company’s stock after purchasing an additional 766 shares during the period. Titleist Asset Management LLC’s holdings in Eaton were worth $764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wetzel Investment Advisors Inc. grew its stake in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 28 shares in the last quarter. Westmount Partners LLC grew its stake in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares in the last quarter. Signal Advisors Wealth LLC increased its holdings in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares during the period. Lantz Financial LLC raised its position in Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 30 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in shares of Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Down 5.6 %

Shares of NYSE:ETN opened at $246.36 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. The stock has a market cap of $96.52 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1-year low of $222.60 and a 1-year high of $379.99. The firm has a fifty day moving average price of $296.43 and a 200 day moving average price of $330.24.

Eaton (NYSE:ETN) last announced its 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 quarter in the prior year, the business earned $2.55 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a report on Wednesday, March 12th. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Royal Bank of Canada decreased their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Evercore ISI dropped their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $356.68.

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.