Price T Rowe Associates Inc. MD Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

Price T Rowe Associates Inc. MD grew its stake in Eaton Co. plc (NYSE:ETN - Free Report) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 592,968 shares of the industrial products company's stock after buying an additional 1,262 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.15% of Eaton worth $196,790,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton during the fourth quarter worth about $30,000. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter valued at $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the 4th quarter worth $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETN has been the subject of a number of analyst reports. Wells Fargo & Company cut their target price on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Evercore ISI lowered their target price on shares of Eaton from $382.00 to $326.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. KeyCorp reduced their price target on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup lowered their price target on Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Melius Research reaffirmed a "hold" rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $350.22.

Eaton Trading Up 1.3 %

Shares of Eaton stock traded up $3.90 during trading hours on Wednesday, reaching $294.59. 2,539,494 shares of the company's stock were exchanged, compared to its average volume of 2,626,426. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. The company has a fifty day moving average of $280.76 and a 200-day moving average of $322.52. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $115.41 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business posted $2.55 EPS. Sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, May 5th. Eaton's payout ratio is currently 43.79%.

About Eaton

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.