Wedbush Securities Inc. Has $3.46 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Wedbush Securities Inc. lifted its position in Eaton Co. plc (NYSE:ETN) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,422 shares of the industrial products company’s stock after acquiring an additional 784 shares during the period. Wedbush Securities Inc.’s holdings in Eaton were worth $3,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter worth about $27,000. Noble Wealth Management PBC acquired a new position in shares of Eaton in the 4th quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in Eaton in the 3rd quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton during the fourth quarter valued at $33,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Citigroup lowered their price target 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. Royal Bank of Canada lowered their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays dropped their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $356.68.

Eaton Price Performance

ETN opened at $246.36 on Friday. Eaton Co. plc has a twelve month low of $236.58 and a twelve month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market cap of $96.52 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.64 and a beta of 1.09. The company has a fifty day simple moving average of $296.43 and a 200 day simple moving average of $330.00.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the business earned $2.55 earnings per share. Equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 1.69%. The ex-dividend date was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is 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.