Financial Engines Advisors L.L.C. Boosts Stock Holdings in Eaton Co. plc (NYSE:ETN)

Financial Engines Advisors L.L.C. lifted its stake in Eaton Co. plc (NYSE:ETN) by 166.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,097 shares of the industrial products company’s stock after buying an additional 1,935 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Eaton were worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton in the fourth quarter valued at about $30,000. Groupama Asset Managment raised its stake in shares of 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 acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN boosted its holdings in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Finally, Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter valued at about $33,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ETN shares. KeyCorp raised 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 report on Wednesday, March 12th. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $357.16.

Eaton Stock Down 1.6 %

Eaton stock opened at $281.04 on Friday. The stock has a fifty day moving average of $307.35 and a 200 day moving average of $331.22. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market cap of $110.10 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $2.55 EPS. As a group, sell-side analysts predict 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 given a $1.04 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.48%. Eaton’s dividend payout ratio is presently 43.79%.

About Eaton

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.