EverSource Wealth Advisors LLC Purchases 216 Shares of Eaton Co. plc (NYSE:ETN)

EverSource Wealth Advisors LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 11.7% in the 4th quarter, HoldingsChannel reports. The firm owned 2,055 shares of the industrial products company’s stock after acquiring an additional 216 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Eaton were worth $682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in Eaton by 4.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 49,693 shares of the industrial products company’s stock worth $16,491,000 after purchasing an additional 1,930 shares during the period. Moors & Cabot Inc. lifted its position in Eaton by 1.3% during the fourth quarter. Moors & Cabot Inc. now owns 45,291 shares of the industrial products company’s stock worth $15,031,000 after purchasing an additional 562 shares during the period. Prosperity Financial Group Inc. lifted its position in Eaton by 15.8% during the fourth quarter. Prosperity Financial Group Inc. now owns 3,833 shares of the industrial products company’s stock worth $1,272,000 after purchasing an additional 523 shares during the period. Natural Investments LLC bought a new stake in Eaton during the fourth quarter worth about $2,781,000. Finally, AGF Management Ltd. lifted its position in Eaton by 8.1% during the fourth quarter. AGF Management Ltd. now owns 364,554 shares of the industrial products company’s stock worth $120,985,000 after purchasing an additional 27,249 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ETN. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price for the company in a research note on Wednesday. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Barclays lowered their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $356.20.

Eaton Stock Performance

Shares of ETN stock opened at $283.16 on Friday. The business’s 50 day simple moving average is $317.27 and its 200 day simple moving average is $331.31. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The stock has a market capitalization of $111.00 billion, a PE ratio of 29.81, a PEG ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 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 period in the previous year, the firm earned $2.55 EPS. As a group, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

Eaton Company 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.