Xponance Inc. Purchases 2,854 Shares of Eaton Co. plc (NYSE:ETN)

Xponance Inc. lifted its position in Eaton Co. plc (NYSE:ETN) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,646 shares of the industrial products company’s stock after acquiring an additional 2,854 shares during the quarter. Xponance Inc.’s holdings in Eaton were worth $19,795,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ETN. Flagship Wealth Advisors LLC bought a new position in Eaton during the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in Eaton during the fourth quarter valued at about $30,000. Groupama Asset Managment lifted 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 valued at $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted 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 last quarter. Finally, Morse Asset Management Inc purchased a new stake in Eaton during the third quarter valued at about $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

ETN opened at $297.31 on Tuesday. The stock has a 50-day moving average price of $315.29 and a 200-day moving average price of $331.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market cap of $116.54 billion, a PE ratio of 31.30, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 posted $2.55 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.40%. Eaton’s payout ratio is 43.79%.

Analyst Upgrades and Downgrades

Several research firms have commented on ETN. Evercore ISI dropped their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Melius Research reissued a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, Jefferies Financial Group lowered their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton 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.