RFG Bristol Wealth Advisors LLC Invests $4.66 Million in Eaton Co. plc (NYSE:ETN)

RFG Bristol Wealth Advisors LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, Holdings Channel reports. The fund purchased 14,053 shares of the industrial products company’s stock, valued at approximately $4,664,000. Eaton makes up 1.5% of RFG Bristol Wealth Advisors LLC’s holdings, making the stock its 17th biggest position.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Eaton during the 4th quarter worth approximately $1,495,582,000. Proficio Capital Partners LLC increased its stake in Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after purchasing an additional 730,594 shares during the period. Janus Henderson Group PLC lifted its position in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Eaton by 390.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock worth $193,421,000 after purchasing an additional 429,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after buying an additional 390,595 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ETN shares. Melius downgraded 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. Barclays dropped their price objective on Eaton from $325.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company lowered their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada cut their price target on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Evercore ISI dropped their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $357.16.

Eaton Price Performance

NYSE ETN opened at $276.77 on Wednesday. The firm’s fifty day simple moving average is $302.79 and its two-hundred day simple moving average is $331.23. The firm has a market capitalization of $108.43 billion, a P/E ratio of 29.13, a P/E/G 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 Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

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

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Eaton Company 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.