Eaton Co. plc (NYSE:ETN) Shares Purchased by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,505 shares of the industrial products company’s stock after buying an additional 163 shares during the period. United Capital Financial Advisors LLC’s holdings in Eaton were worth $12,447,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. grew its stake in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. acquired a new position in Eaton in the fourth quarter valued at $297,000. Webster Bank N. A. lifted its position in Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after buying an additional 6,166 shares during the period. Ballentine Partners LLC boosted its stake in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after buying an additional 790 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 1,694 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Price Performance

Shares of ETN stock opened at $277.03 on Wednesday. The firm has a market cap of $108.53 billion, a P/E ratio of 29.16, a P/E/G ratio of 2.64 and a beta of 1.09. The firm has a fifty day moving average of $287.83 and a two-hundred day moving average of $326.48. 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 $231.85 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating 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 period in the prior year, the business posted $2.55 earnings per share. As a group, research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share 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 given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 43.79%.

Analyst Ratings Changes

Several research firms recently issued reports on ETN. Evercore ISI decreased their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a report on Monday. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, 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 report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.22.

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.