Ausdal Financial Partners Inc. Increases Stock Position in Eaton Co. plc (NYSE:ETN)

Ausdal Financial Partners Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 27.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,795 shares of the industrial products company’s stock after buying an additional 390 shares during the period. Ausdal Financial Partners Inc.’s holdings in Eaton were worth $596,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Eaton by 42,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock valued at $243,036,000 after acquiring an additional 730,594 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in Eaton by 390.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock valued at $193,421,000 after purchasing an additional 429,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after purchasing an additional 390,595 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group cut their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price target 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. StockNews.com downgraded Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a report on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $357.16.

Eaton Price Performance

Eaton stock opened at $281.04 on Friday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a 50 day moving average price of $307.35 and a 200 day moving average price of $331.22. The company has a market cap of $110.10 billion, a price-to-earnings ratio of 29.58, 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 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 previous year, the firm posted $2.55 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. 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 1.48%. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is currently 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.