Eaton Co. plc (NYSE:ETN) Shares Acquired by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. boosted its holdings in Eaton Co. plc (NYSE:ETN) by 38.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 626 shares of the industrial products company’s stock after buying an additional 175 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Eaton were worth $210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC raised its stake in Eaton by 6.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 68,369 shares of the industrial products company’s stock worth $22,690,000 after acquiring an additional 4,123 shares in the last quarter. United Bank increased its position in shares of Eaton by 225.2% during the fourth quarter. United Bank now owns 2,527 shares of the industrial products company’s stock worth $839,000 after purchasing an additional 1,750 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new stake in shares of Eaton in the 4th quarter valued at about $88,000. CIBC Private Wealth Group LLC boosted its position in shares of Eaton by 19.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 32,716 shares of the industrial products company’s stock valued at $11,291,000 after purchasing an additional 5,314 shares during the period. Finally, Joseph Group Capital Management grew its stake in Eaton by 8.8% during the 4th quarter. Joseph Group Capital Management now owns 13,977 shares of the industrial products company’s stock worth $4,639,000 after buying an additional 1,128 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ETN shares. Melius Research reiterated a “hold” rating and issued a $373.00 price objective on shares of Eaton 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 target for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price objective 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. Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton Price Performance

ETN stock opened at $274.05 on Monday. The company has a market cap of $107.37 billion, a price-to-earnings ratio of 28.85, 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. The firm has a 50 day moving average of $305.90 and a 200-day moving average of $331.66. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last posted its 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 quarter in the prior year, the business earned $2.55 EPS. As a group, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. 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.