Altshuler Shaham Ltd Acquires Shares of 1,053 Eaton Co. plc (NYSE:ETN)

Altshuler Shaham Ltd purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,053 shares of the industrial products company’s stock, valued at approximately $349,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter valued at approximately $30,000. Horizon Bancorp Inc. IN boosted its position in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter worth $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the 4th quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of research reports. Barclays reduced their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Friday, April 4th. Citigroup reduced their target price on shares of Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a report on Monday. Evercore ISI cut their price target 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. KeyCorp decreased their price objective on Eaton from $340.00 to $325.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Jefferies Financial Group cut their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.22.

Eaton Price Performance

Shares of ETN opened at $269.42 on Thursday. The stock has a market cap of $105.55 billion, a P/E ratio of 28.36, a P/E/G ratio of 2.64 and a beta of 1.09. The business’s fifty day moving average is $286.96 and its 200 day moving average is $326.08. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $231.85 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 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 last year, the firm earned $2.55 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. 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 1.54%. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

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.