Independent Solutions Wealth Management LLC Purchases 222 Shares of Eaton Co. plc (NYSE:ETN)

Independent Solutions Wealth Management LLC lifted its position in Eaton Co. plc (NYSE:ETN) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,727 shares of the industrial products company’s stock after buying an additional 222 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Eaton were worth $3,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. United Bank acquired a new stake in shares of Eaton in the third quarter valued at about $258,000. GSA Capital Partners LLP bought a new position in Eaton in the 3rd quarter worth approximately $295,000. Prospera Private Wealth LLC lifted its holdings in shares of Eaton by 4.8% during the third quarter. Prospera Private Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after buying an additional 41 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Eaton in the third quarter valued at approximately $6,632,000. Finally, Howe & Rusling Inc. grew its stake in shares of Eaton by 8.4% in the third quarter. Howe & Rusling Inc. now owns 900 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 70 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 0.3 %

Shares of ETN stock opened at $295.34 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $115.71 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The firm has a 50-day moving average price of $312.21 and a 200 day moving average price of $331.15.

Eaton (NYSE:ETN) last announced its earnings results 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 company posted $2.55 EPS. Research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.41%. Eaton’s dividend payout ratio (DPR) is 43.79%.

Wall Street Analyst Weigh In

Several research firms recently commented on ETN. 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. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Barclays cut their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average target price 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.