Captrust Financial Advisors Acquires 1,537 Shares of Eaton Co. plc (NYSE:ETN)

Captrust Financial Advisors raised its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,503 shares of the industrial products company's stock after buying an additional 1,537 shares during the quarter. Captrust Financial Advisors' holdings in Eaton were worth $18,420,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Eaton by 4.1% during 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 in the last quarter. Regent Peak Wealth Advisors LLC purchased a new position in Eaton during the fourth quarter valued at $532,000. Park National Corp OH boosted its holdings in shares of Eaton by 2.1% during the 4th quarter. Park National Corp OH now owns 2,779 shares of the industrial products company's stock valued at $922,000 after buying an additional 58 shares in the last quarter. Fulton Bank N.A. grew its position in shares of Eaton by 36.9% in the 4th quarter. Fulton Bank N.A. now owns 7,117 shares of the industrial products company's stock worth $2,362,000 after buying an additional 1,917 shares during the period. Finally, ORG Partners LLC increased its stake in shares of Eaton by 90.7% in the 4th quarter. ORG Partners LLC now owns 946 shares of the industrial products company's stock worth $314,000 after acquiring an additional 450 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a report on Monday. Jefferies Financial Group lowered 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. StockNews.com raised Eaton from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Melius lowered Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. Finally, Barclays cut their price objective 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. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $361.13.

Eaton Price Performance

Shares of Eaton stock opened at $298.56 on Wednesday. The stock's fifty day moving average is $281.41 and its 200 day moving average is $320.94. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99. 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 has a market cap of $116.97 billion, a P/E ratio of 31.43, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.26 billion. During the same period in the prior year, the firm posted $2.40 EPS. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.39%. Eaton's 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.

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