Eaton Co. plc (NYSE:ETN) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,585 shares of the industrial products company’s stock after purchasing an additional 437 shares during the quarter. Modern Wealth Management LLC’s holdings in Eaton were worth $2,107,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ETN. Vanguard Group Inc. raised its stake in Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock valued at $12,351,506,000 after purchasing an additional 99,291 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after buying an additional 56,516 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares during the period. Janus Henderson Group PLC boosted its position in 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 acquiring an additional 597,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after acquiring an additional 1,629,856 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Trading Down 0.9 %

NYSE:ETN opened at $300.11 on Wednesday. The business’s 50-day moving average is $309.76 and its two-hundred day moving average is $331.90. The firm has a market capitalization of $117.57 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 company posted $2.55 EPS. Research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Analyst Ratings Changes

ETN has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada decreased 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. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Evercore ISI lowered their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $357.68.

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.