Runnymede Capital Advisors Inc. Makes New Investment in Eaton Co. plc (NYSE:ETN)

Runnymede Capital Advisors Inc. purchased a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 235 shares of the industrial products company’s stock, valued at approximately $78,000.

Several other hedge funds have also bought and sold shares of ETN. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the 4th quarter worth $30,000. Groupama Asset Managment lifted its stake in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its position in shares of Eaton by 321.7% during the 4th 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. Finally, Morse Asset Management Inc purchased a new stake in shares of Eaton during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ETN shares. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company decreased their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a research report on Wednesday, March 12th. 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. Finally, Melius Research restated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton Price Performance

Shares of ETN stock opened at $295.88 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market capitalization of $115.92 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.64 and a beta of 1.09. The company’s 50-day simple moving average is $311.30 and its two-hundred day simple moving average is $331.08. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $2.55 EPS. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is presently 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.