Richwood Investment Advisors LLC Has $1.07 Million Stake in Eaton Co. plc (NYSE:ETN)

Richwood Investment Advisors LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,228 shares of the industrial products company’s stock after selling 40 shares during the period. Eaton accounts for 0.9% of Richwood Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Richwood Investment Advisors LLC’s holdings in Eaton were worth $1,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. United Bank bought a new position in shares of Eaton during the 3rd quarter worth about $258,000. GSA Capital Partners LLP bought a new position in shares of Eaton during the 3rd quarter worth about $295,000. King Luther Capital Management Corp increased its holdings in shares of Eaton by 15.7% during the 3rd quarter. King Luther Capital Management Corp now owns 3,848 shares of the industrial products company’s stock worth $1,275,000 after purchasing an additional 521 shares during the period. CFS Investment Advisory Services LLC increased its holdings in shares of Eaton by 5.5% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 712 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 37 shares during the period. Finally, Allen Capital Group LLC bought a new position in shares of Eaton during the 3rd quarter worth about $207,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ETN. Royal Bank of Canada dropped their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a research note on Wednesday, March 12th. Jefferies Financial Group lowered their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. 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. Finally, 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. Eight 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $357.68.

Eaton Price Performance

Shares of ETN stock opened at $295.88 on Friday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm’s 50 day moving average is $311.30 and its 200-day moving average is $331.37. The firm has a market capitalization of $115.92 billion, a price-to-earnings ratio of 31.14, a PEG 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.

Eaton (NYSE:ETN) last announced 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the business earned $2.55 EPS. Sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend yield of 1.41%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

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.