Federated Hermes Inc. Buys 4,296 Shares of Eaton Co. plc (NYSE:ETN)

Federated Hermes Inc. boosted its position in Eaton Co. plc (NYSE:ETN) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 400,520 shares of the industrial products company’s stock after purchasing an additional 4,296 shares during the quarter. Federated Hermes Inc. owned approximately 0.10% of Eaton worth $132,921,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wetzel Investment Advisors Inc. raised its stake in shares of Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 28 shares in the last quarter. Westmount Partners LLC grew its holdings in Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC increased its position in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares in the last quarter. Lantz Financial LLC lifted its holdings in shares of Eaton by 4.8% during the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in shares of Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock worth $544,000 after purchasing an additional 32 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ETN shares. Evercore ISI decreased their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Melius lowered shares of 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. Citigroup dropped their target price 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. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research note on Wednesday, March 12th. Finally, Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $356.68.

Eaton Trading Down 5.6 %

Eaton stock opened at $246.36 on Friday. The firm has a market cap of $96.52 billion, a PE ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12 month low of $236.58 and a 12 month high of $379.99. The stock’s 50 day simple moving average is $296.43 and its two-hundred day simple moving average is $330.13. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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, 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 quarter in the prior year, the firm earned $2.55 EPS. Analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $1.04 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.69%. Eaton’s dividend payout ratio is presently 43.79%.

About Eaton

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.