Wealth Dimensions Group Ltd. Buys Shares of 818 Eaton Co. plc (NYSE:ETN)

Wealth Dimensions Group Ltd. purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 818 shares of the industrial products company’s stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in Eaton during the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton during the fourth quarter worth $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of NYSE ETN opened at $268.15 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $284.95 and its two-hundred day moving average price is $325.21. The company has a market cap of $105.05 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $2.55 earnings per share. On average, analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of research analyst reports. StockNews.com raised shares of Eaton from a “hold” rating to a “buy” rating in a research note on Monday, April 14th. Melius Research reiterated a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Evercore ISI cut their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $350.22.

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.