Farther Finance Advisors LLC Has $6.41 Million Holdings in Eaton Corporation, PLC $ETN

Key Points

• Farther Finance Advisors LLC increased its stake in Eaton by 26.9%, buying 4,260 shares to hold 20,122 shares worth approximately $6.41 million as of the latest 13F filing.
• Analysts are generally positive on Eaton with a consensus rating of “Moderate Buy” and a consensus price target of $396.50, while individual targets range roughly from $360 to $430 and the breakdown includes two Strong Buy, fourteen Buy and five Hold ratings.
• Eaton reported quarterly EPS of $3.23 on revenue of $7.06 billion and raised its quarterly dividend to $1.10 (from $1.04), an annualized $4.40 payout with a ~1.1% yield.

Farther Finance Advisors LLC increased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,122 shares of the industrial products company's stock after buying an additional 4,260 shares during the period. Farther Finance Advisors LLC's holdings in Eaton were worth $6,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Eagle Bay Advisors LLC bought a new position in Eaton during the 4th quarter worth $29,000. WFA of San Diego LLC bought a new stake in shares of Eaton during the 2nd quarter valued at $36,000. Imprint Wealth LLC acquired a new stake in shares of Eaton during the 3rd quarter worth $39,000. Redmont Wealth Advisors LLC bought a new position in shares of Eaton in the third quarter worth $40,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in Eaton in the third quarter valued at about $70,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ETN. Jefferies Financial Group started coverage on shares of Eaton in a research report on Monday, March 16th. They set a "buy" rating and a $430.00 price objective for the company. UBS Group restated a "neutral" rating and issued a $360.00 target price (down from $440.00) on shares of Eaton in a research report on Sunday, January 4th. BMO Capital Markets began coverage on shares of Eaton in a research report on Friday, March 27th. They set an "outperform" rating and a $428.00 price target on the stock. HSBC raised shares of Eaton from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $440.00 to $406.00 and set an "overweight" rating for the company in a research report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $396.50.

Eaton Stock Performance

NYSE ETN opened at $393.02 on Friday. The firm's fifty day moving average price is $371.44 and its two-hundred day moving average price is $357.33. The stock has a market cap of $152.48 billion, a PE ratio of 37.57, a PEG ratio of 2.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 1.32. Eaton Corporation, PLC has a fifty-two week low of $255.10 and a fifty-two week high of $408.45.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The industrial products company reported $3.23 EPS for the quarter. The company had revenue of $7.06 billion during the quarter. Eaton had a return on equity of 25.00% and a net margin of 14.89%. On average, equities analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Eaton's previous quarterly dividend of $1.04. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.1%. Eaton's payout ratio is 42.07%.

Insider Buying and Selling at Eaton

In other news, insider Sternadt Paulo Ruiz sold 10,707 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $390.26, for a total value of $4,178,513.82. Following the completion of the transaction, the insider owned 27,729 shares of the company's stock, valued at $10,821,519.54. This represents a 27.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.10% of the company's stock.

Eaton Company Profile

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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