Bernard Wealth Management Corp. Makes New $211,000 Investment in Eaton Co. plc (NYSE:ETN)

Bernard Wealth Management Corp. bought a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 635 shares of the industrial products company’s stock, valued at approximately $211,000.

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

Eaton Stock Up 2.5 %

Eaton stock opened at $252.67 on Tuesday. The firm has a market capitalization of $98.99 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock’s fifty day moving average is $295.28 and its two-hundred day moving average is $329.70.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 period in the previous year, the business posted $2.55 EPS. Analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ETN. Royal Bank of Canada cut their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, Barclays cut their price target on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research note on Friday. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $356.68.

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.