2,370 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. bought a new position in Eaton Co. plc (NYSE:ETN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,370 shares of the industrial products company's stock, valued at approximately $787,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN raised its holdings in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the 4th quarter valued at $33,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. Citigroup cut their target price on Eaton from $396.00 to $323.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Jefferies Financial Group dropped their price target on shares of 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 downgraded shares of Eaton from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Eaton has a consensus rating of "Moderate Buy" and a consensus price target of $350.22.

Eaton Stock Performance

Shares of NYSE:ETN traded down $3.82 on Monday, hitting $285.00. 1,688,820 shares of the company were exchanged, compared to its average volume of 2,626,655. 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 stock's 50 day moving average price is $281.54 and its 200 day moving average price is $323.11. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The firm has a market capitalization of $111.65 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

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

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. Eaton's dividend payout ratio (DPR) is 43.79%.

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.