Brown Brothers Harriman & Co. Buys 924 Shares of Eaton Co. plc (NYSE:ETN)

Brown Brothers Harriman & Co. boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,772 shares of the industrial products company’s stock after acquiring an additional 924 shares during the period. Brown Brothers Harriman & Co.’s holdings in Eaton were worth $2,579,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC bought a new stake in Eaton during the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the 4th quarter valued at approximately $30,000. Groupama Asset Managment lifted its holdings 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 boosted its stake in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 2.4 %

Shares of NYSE:ETN opened at $274.05 on Friday. The firm has a market capitalization of $107.37 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The business has a 50 day simple moving average of $305.90 and a two-hundred day simple moving average of $331.42. 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 current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) 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 quarter in the previous year, the company posted $2.55 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors 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. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their target price on 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 reduced their price objective on 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, KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price for the company in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.