SRS Capital Advisors Inc. Raises Holdings in Eaton Co. plc (NYSE:ETN)

SRS Capital Advisors Inc. grew its position in Eaton Co. plc (NYSE:ETN) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,563 shares of the industrial products company’s stock after buying an additional 73 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Eaton were worth $519,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ETN. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the 4th quarter worth $30,000. Groupama Asset Managment raised its holdings in Eaton by 83.2% in the third 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 in the last quarter. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% in the fourth 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 bought a new position in Eaton in the third quarter worth about $33,000. Finally, Activest Wealth Management raised its holdings in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Price Performance

Shares of NYSE ETN opened at $277.71 on Tuesday. The business’s 50 day moving average price is $325.70 and its 200 day moving average price is $332.62. The firm has a market cap of $109.75 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS 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 period last year, the company earned $2.55 EPS. On average, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 43.79%.

Insiders Place Their Bets

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Melius Research reiterated a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Citigroup reduced their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $364.65.

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.