Terra Alpha Investments LLC Acquires Shares of 15,506 Eaton Co. plc (NYSE:ETN)

Terra Alpha Investments LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 15,506 shares of the industrial products company’s stock, valued at approximately $5,146,000. Eaton makes up approximately 5.2% of Terra Alpha Investments LLC’s portfolio, making the stock its 5th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in Eaton by 6.9% in the fourth quarter. Parallel Advisors LLC now owns 8,113 shares of the industrial products company’s stock valued at $2,693,000 after buying an additional 526 shares during the period. Cibc World Markets Corp lifted its stake in shares of Eaton by 15.3% in the 4th quarter. Cibc World Markets Corp now owns 62,464 shares of the industrial products company’s stock valued at $20,730,000 after purchasing an additional 8,297 shares during the period. SlateStone Wealth LLC boosted its position in shares of Eaton by 4.0% in the 4th quarter. SlateStone Wealth LLC now owns 4,630 shares of the industrial products company’s stock worth $1,536,000 after purchasing an additional 176 shares during the last quarter. First National Advisers LLC grew its stake in shares of Eaton by 3.7% during the fourth quarter. First National Advisers LLC now owns 10,396 shares of the industrial products company’s stock worth $3,451,000 after purchasing an additional 369 shares during the period. Finally, Glenview Trust co increased its holdings in Eaton by 7.2% in the fourth quarter. Glenview Trust co now owns 10,843 shares of the industrial products company’s stock valued at $3,598,000 after purchasing an additional 728 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Royal Bank of Canada cut their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Barclays cut their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $357.68.

Eaton Stock Up 3.8 %

ETN stock opened at $294.53 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $316.31 and a two-hundred day moving average price of $331.81. The company has a market cap of $115.45 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly 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 period in the prior year, the business earned $2.55 earnings per share. Analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. 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.