Faithward Advisors LLC Acquires 82 Shares of Eaton Co. plc (NYSE:ETN)

Faithward Advisors LLC boosted its holdings in Eaton Co. plc (NYSE:ETN) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,839 shares of the industrial products company’s stock after acquiring an additional 82 shares during the quarter. Faithward Advisors LLC’s holdings in Eaton were worth $1,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new position in Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the 4th quarter valued at about $30,000. Groupama Asset Managment lifted its position 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 buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its position 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 buying an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in Eaton in the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 2.5 %

Shares of NYSE:ETN opened at $252.67 on Tuesday. The firm has a market capitalization of $98.99 billion, a P/E ratio of 26.60, a P/E/G 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. The stock has a 50 day moving average price of $295.28 and a 200-day moving average price of $329.70. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99.

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, topping 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 period in the prior year, the business earned $2.55 earnings per share. As a group, equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced 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 represents a $4.16 annualized dividend and a dividend yield of 1.65%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Melius Research reaffirmed a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Royal Bank of Canada decreased their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target 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.