Dagco Inc. Buys 1,000 Shares of Eaton Co. plc (NYSE:ETN)

Dagco Inc. boosted its holdings in Eaton Co. plc (NYSE:ETN) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,170 shares of the industrial products company’s stock after acquiring an additional 1,000 shares during the quarter. Eaton accounts for approximately 1.0% of Dagco Inc.’s holdings, making the stock its 23rd largest position. Dagco Inc.’s holdings in Eaton were worth $3,043,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton during the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new position in Eaton during the fourth quarter valued at $30,000. Horizon Bancorp Inc. IN grew its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc purchased a new stake in Eaton in the third quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter worth about $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of recent research reports. KeyCorp cut their price objective on Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Melius Research reissued a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Barclays lowered their target price on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Friday, April 4th. 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 research note on Wednesday, March 12th. Finally, Royal Bank of Canada lowered their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $355.06.

Eaton Trading Up 2.4 %

Shares of ETN stock opened at $277.13 on Monday. The company has a market cap of $108.57 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock’s 50 day simple moving average is $289.36 and its two-hundred day simple moving average is $327.18. Eaton Co. plc has a 1 year low of $231.85 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 period in the prior year, the company earned $2.55 earnings per share. Research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 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.