Eaton Co. plc (NYSE:ETN) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in Eaton Co. plc (NYSE:ETN) by 6.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 268,371 shares of the industrial products company’s stock after purchasing an additional 16,059 shares during the period. Commonwealth Equity Services LLC’s holdings in Eaton were worth $89,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ETN. United Bank purchased a new position in Eaton during the 3rd quarter valued at about $258,000. GSA Capital Partners LLP acquired a new stake in shares of Eaton in the third quarter valued at approximately $295,000. MQS Management LLC purchased a new position in shares of Eaton during the 3rd quarter worth approximately $474,000. Cable Hill Partners LLC purchased a new stake in Eaton in the 3rd quarter valued at approximately $211,000. Finally, Plato Investment Management Ltd grew its holdings in Eaton by 21.4% during the 3rd quarter. Plato Investment Management Ltd now owns 14,010 shares of the industrial products company’s stock valued at $4,639,000 after buying an additional 2,466 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ETN shares. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a report on Wednesday. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays decreased their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Evercore ISI cut their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $356.20.

Eaton Price Performance

ETN stock opened at $283.16 on Friday. The company has a market cap of $111.00 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $317.27 and a two-hundred day moving average price of $331.31. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

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, topping 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 previous year, the company posted $2.55 earnings per share. As a group, research analysts predict 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 given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. 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.