HighPoint Advisor Group LLC Purchases 351 Shares of Eaton Co. plc (NYSE:ETN)

HighPoint Advisor Group LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,096 shares of the industrial products company’s stock after buying an additional 351 shares during the period. HighPoint Advisor Group LLC’s holdings in Eaton were worth $2,879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Flagship Wealth Advisors LLC bought a new stake in Eaton during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% in the 4th 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 in the last quarter. Morse Asset Management Inc bought a new position in Eaton during the 3rd quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Eaton during the fourth quarter valued at $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

ETN opened at $271.98 on Tuesday. 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 Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a 50 day simple moving average of $304.41 and a two-hundred day simple moving average of $331.44. The firm has a market cap of $106.55 billion, a P/E ratio of 28.63, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 period in the prior year, the business earned $2.55 EPS. Equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is 43.79%.

Analyst Ratings Changes

ETN has been the topic of a number of recent research reports. Barclays cut their target price 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. Royal Bank of Canada reduced their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $357.16.

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.