Defined Financial Planning LLC Invests $335,000 in Eaton Co. plc (NYSE:ETN)

Defined Financial Planning LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,009 shares of the industrial products company’s stock, valued at approximately $335,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Morse Asset Management Inc purchased a new position in shares of Eaton in the third quarter valued at approximately $33,000. Wellington Management Group LLP raised its stake in Eaton by 74.6% in the 3rd quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company’s stock valued at $9,299,000 after purchasing an additional 11,992 shares during the last quarter. Bard Financial Services Inc. purchased a new position in Eaton in the 3rd quarter valued at $255,000. Advisory Resource Group grew its holdings in shares of Eaton by 10.9% during the third quarter. Advisory Resource Group now owns 4,358 shares of the industrial products company’s stock worth $1,444,000 after buying an additional 428 shares in the last quarter. Finally, Chelsea Counsel Co. grew its holdings in shares of Eaton by 29.4% during the third quarter. Chelsea Counsel Co. now owns 220 shares of the industrial products company’s stock worth $73,000 after buying an additional 50 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on ETN. Barclays lowered their price target on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Friday, April 4th. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price target on Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lowered 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, Royal Bank of Canada cut their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $355.06.

Eaton Trading Up 2.4 %

NYSE ETN opened at $277.13 on Monday. Eaton Co. plc has a 52 week low of $231.85 and a 52 week high of $379.99. The firm has a 50 day moving average of $289.36 and a two-hundred day moving average of $327.18. The stock has a market capitalization of $108.57 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 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 company earned $2.55 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s dividend payout ratio is currently 43.79%.

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.