New Age Alpha Advisors LLC Invests $4.15 Million in Eaton Co. plc (NYSE:ETN)

New Age Alpha Advisors LLC bought a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,500 shares of the industrial products company’s stock, valued at approximately $4,148,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in Eaton in the 4th quarter worth $30,000. Horizon Bancorp Inc. IN increased its position 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 valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new position in shares of Eaton during the third quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the fourth quarter worth about $33,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

Shares of Eaton stock opened at $274.05 on Friday. The stock has a market cap of $107.37 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.64 and a beta of 1.09. 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 $255.65 and a 1 year high of $379.99. The firm’s 50-day moving average is $305.90 and its 200 day moving average is $331.12.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 quarter in the previous year, the business earned $2.55 EPS. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

A number of research firms have commented on ETN. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Barclays decreased their price objective on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a report on Wednesday. Wells Fargo & Company cut 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 note on Wednesday, March 5th. Finally, StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.16.

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.