Steward Partners Investment Advisory LLC Increases Stake in Eaton Co. plc (NYSE:ETN)

Steward Partners Investment Advisory LLC increased its position in Eaton Co. plc (NYSE:ETN) by 6.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 142,552 shares of the industrial products company’s stock after acquiring an additional 9,179 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Eaton were worth $47,309,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ETN. Chicago Partners Investment Group LLC boosted its stake in Eaton by 100.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,078 shares of the industrial products company’s stock worth $1,062,000 after purchasing an additional 1,546 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Eaton by 9.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 251,983 shares of the industrial products company’s stock worth $83,517,000 after purchasing an additional 22,637 shares during the period. Kanawha Capital Management LLC bought a new position in Eaton in the 3rd quarter worth about $207,000. Vestor Capital LLC bought a new position in Eaton in the 3rd quarter worth about $4,118,000. Finally, Wetzel Investment Advisors Inc. boosted its stake in Eaton by 1.5% in the 3rd quarter. Wetzel Investment Advisors Inc. now owns 3,073 shares of the industrial products company’s stock worth $1,019,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of Eaton stock opened at $277.71 on Tuesday. 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 business’s 50 day simple moving average is $325.70 and its two-hundred day simple moving average is $332.62. The stock has a market capitalization of $109.75 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 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 period in the previous year, the company posted $2.55 EPS. Analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a $1.04 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is 43.79%.

Insiders Place Their Bets

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 target price for the company. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Citigroup dropped their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group lifted their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Melius Research reiterated a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $364.65.

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.