Anderson Financial Strategies LLC Purchases Shares of 1,296 Eaton Co. plc (NYSE:ETN)

Anderson Financial Strategies LLC bought a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,296 shares of the industrial products company's stock, valued at approximately $430,000.

A number of other large investors have also recently made changes to their positions in ETN. Wetzel Investment Advisors Inc. lifted its holdings in 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 buying an additional 28 shares during the last quarter. Westmount Partners LLC lifted its stake in Eaton by 3.1% during 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 boosted its holdings in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after purchasing an additional 30 shares in the last quarter. Lantz Financial LLC raised its holdings in Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company's stock worth $219,000 after purchasing an additional 30 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Eaton by 2.0% during 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 buying an additional 32 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Eaton from $315.00 to $306.00 and set an "equal weight" rating for the company in a research report on Friday, April 4th. Citigroup increased their price target on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research note on Monday. KeyCorp lifted their price objective on shares of Eaton from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Monday. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their price objective on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and an average target price of $361.13.

Eaton Price Performance

ETN stock traded up $4.20 during trading on Wednesday, reaching $302.31. 1,888,620 shares of the company were exchanged, compared to its average volume of 2,637,125. The company has a market cap of $118.44 billion, a P/E ratio of 31.82, a PEG ratio of 2.64 and a beta of 1.14. 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's 50 day moving average price is $281.41 and its 200 day moving average price is $320.94. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the firm earned $2.40 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

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.