Stenger Family Office LLC Takes $2.92 Million Position in Eaton Co. plc (NYSE:ETN)

Stenger Family Office LLC acquired a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 8,784 shares of the industrial products company’s stock, valued at approximately $2,915,000. Eaton accounts for 1.0% of Stenger Family Office LLC’s holdings, making the stock its 26th largest position.

Several other institutional investors also recently bought and sold shares of ETN. B. Riley Wealth Advisors Inc. lifted its position in Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the last quarter. Lighthouse Wealth Management Inc. purchased a new stake in Eaton during the 4th quarter valued at $297,000. Webster Bank N. A. grew its holdings in Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after acquiring an additional 6,166 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after acquiring an additional 790 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Eaton by 13.2% during the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 1,694 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Eaton Trading Down 0.3 %

NYSE ETN opened at $277.03 on Wednesday. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average price is $287.83 and its 200-day moving average price is $326.48. The stock has a market cap of $108.53 billion, a P/E ratio of 29.16, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating the consensus estimate 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 business posted $2.55 EPS. As a group, equities analysts forecast 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. Shareholders of record on Monday, March 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.50%. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ETN. Citigroup reduced their price target on Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a report on Monday. Melius Research restated a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Royal Bank of Canada cut their price target 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. Wells Fargo & Company decreased their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Finally, Evercore ISI cut their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $350.22.

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.