Flagship Wealth Advisors LLC Purchases Shares of 80 Eaton Co. plc (NYSE:ETN)

Flagship Wealth Advisors LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 80 shares of the industrial products company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Noble Wealth Management PBC bought a new stake in shares of Eaton during the fourth quarter worth about $30,000. Groupama Asset Managment boosted its holdings in Eaton by 83.2% during 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 during the last quarter. Horizon Bancorp Inc. IN boosted its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new position in Eaton in the third quarter valued at about $33,000. Finally, Activest Wealth Management boosted its stake in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 87 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ETN. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada cut 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. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Finally, Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Stock Down 2.2 %

ETN opened at $290.59 on Wednesday. The company has a market cap of $113.91 billion, a P/E ratio of 30.59, a P/E/G ratio of 2.64 and a beta of 1.09. The business’s 50-day moving average price is $314.23 and its 200-day moving average price is $331.66. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

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

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

About Eaton

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.