one8zero8 LLC Acquires Shares of 38,643 Eaton Co. plc (NYSE:ETN)
one8zero8 LLC has acquired 38,643 shares of Eaton Co. plc (NYSE:ETN) valued at approximately $12.8 million, making it the 7th largest position in their portfolio. Other investors, including Wetzel Investment Advisors and Westmount Partners, have also increased their stakes in Eaton. The company recently reported earnings of $2.83 per share, exceeding estimates, and announced a dividend increase to $1.04 per share. Analysts have adjusted price targets for Eaton, with ratings ranging from "overweight" to "hold."
one8zero8 LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 38,643 shares of the industrial products company's stock, valued at approximately $12,825,000. Eaton makes up about 2.8% of one8zero8 LLC's investment portfolio, making the stock its 7th largest position.
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A number of other large investors also recently made changes to their positions in ETN. Wetzel Investment Advisors Inc. grew its position in Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company's stock valued at $1,029,000 after purchasing an additional 28 shares during the last quarter. Westmount Partners LLC lifted its stake in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock valued at $327,000 after acquiring an additional 30 shares during the period. Signal Advisors Wealth LLC lifted its stake in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after acquiring an additional 30 shares during the period. Lantz Financial LLC lifted its stake in Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock valued at $219,000 after acquiring an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Eaton by 2.0% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company's stock valued at $544,000 after acquiring an additional 32 shares during the period. 82.97% of the stock is owned by institutional investors.
Eaton Trading Up 3.8 %
Shares of ETN opened at $294.53 on Friday. 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 Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a 50 day simple moving average of $316.31 and a two-hundred day simple moving average of $331.54. The firm has a market cap of $115.45 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.
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Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data 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 quarter last year, the company posted $2.55 earnings per share. On average, equities analysts expect 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. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. 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 yield of 1.41%. The ex-dividend date is Monday, March 10th. Eaton's dividend payout ratio (DPR) is 43.79%.
Analysts Set New Price Targets
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Several research firms have issued reports on ETN. JPMorgan Chase & Co. lowered their target price 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. Evercore ISI lowered their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. KeyCorp upgraded shares of Eaton from a "sector weight" rating to an "overweight" rating and set a $340.00 price objective on the stock in a research note on Wednesday. Finally, Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $357.68.
View Our Latest Stock Report on Eaton
About Eaton
(Free Report)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.
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