AdvisorShares Investments LLC Buys New Position in Eaton Co. plc (NYSE:ETN)

AdvisorShares Investments LLC purchased a new position in Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,400 shares of the industrial products company's stock, valued at approximately $465,000.

A number of other large investors also recently modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the fourth quarter worth approximately $30,000. Horizon Bancorp Inc. IN increased its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Eaton during the 3rd quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton during the 4th quarter worth $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ETN. Citigroup lowered their price objective on shares of Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Melius Research reiterated a "hold" rating and set a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada lowered their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $350.24.

Eaton Stock Down 0.7 %

NYSE:ETN traded down $2.08 during trading hours on Friday, reaching $299.58. The company's stock had a trading volume of 5,931,677 shares, compared to its average volume of 2,632,727. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a market cap of $117.37 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. The business's 50-day moving average is $281.21 and its 200-day moving average is $321.76.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the firm posted $2.40 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio is currently 43.79%.

Eaton Company 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.