Eaton Co. plc (NYSE:ETN) Shares Purchased by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC raised its holdings in Eaton Co. plc (NYSE:ETN) by 102.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,096 shares of the industrial products company’s stock after buying an additional 2,574 shares during the period. Eaton comprises about 1.0% of Worth Financial Advisory Group LLC’s holdings, making the stock its 21st largest position. Worth Financial Advisory Group LLC’s holdings in Eaton were worth $1,690,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the fourth quarter valued at $30,000. Groupama Asset Managment grew its holdings in shares of 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 increased its position in shares of Eaton by 321.7% during 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. Finally, Morse Asset Management Inc purchased a new stake in shares of Eaton in the 3rd quarter valued at about $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ETN has been the topic of several research analyst reports. Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Evercore ISI lowered their price target 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $357.16.

Eaton Stock Performance

Shares of ETN opened at $285.60 on Thursday. The company has a market capitalization of $111.89 billion, a PE ratio of 30.06, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a 50-day simple moving average of $308.63 and a 200-day simple moving average of $331.57. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $2.55 earnings per share. Equities research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.46%. Eaton’s dividend payout ratio is 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.