Alteri Wealth LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

Alteri Wealth LLC acquired a new stake in Eaton Co. plc (NYSE:ETN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,224 shares of the industrial products company's stock, valued at approximately $738,000.

Other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new position in Eaton during the 3rd quarter worth $33,000. Peapack Gladstone Financial Corp boosted its stake in shares of Eaton by 0.5% during the third quarter. Peapack Gladstone Financial Corp now owns 15,621 shares of the industrial products company's stock worth $5,177,000 after buying an additional 71 shares during the period. Franklin Resources Inc. grew its holdings in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company's stock worth $836,938,000 after buying an additional 316,830 shares during the last quarter. Principal Financial Group Inc. increased its position in Eaton by 4.1% in the 3rd quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company's stock valued at $151,584,000 after acquiring an additional 17,965 shares during the period. Finally, Versant Capital Management Inc raised its stake in Eaton by 113.4% during the 4th quarter. Versant Capital Management Inc now owns 636 shares of the industrial products company's stock valued at $211,000 after acquiring an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ETN shares. Melius Research reissued a "hold" rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. KeyCorp boosted 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. Evercore ISI reduced their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Citigroup boosted 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. Finally, Wells Fargo & Company increased their price target on shares of Eaton from $270.00 to $310.00 and gave the stock an "equal weight" rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $357.31.

Eaton Price Performance

Eaton stock traded down $0.64 during trading hours on Monday, hitting $299.07. The stock had a trading volume of 2,454,895 shares, compared to its average volume of 2,635,468. The stock has a market capitalization of $117.17 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 2.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The stock's fifty day moving average is $281.24 and its two-hundred day moving average is $321.09.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share 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 firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the firm posted $2.40 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, May 5th. Eaton's dividend payout ratio (DPR) 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.