Eaton Co. plc (NYSE:ETN) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in Eaton Co. plc (NYSE:ETN) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,528 shares of the industrial products company’s stock after buying an additional 1,486 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Eaton were worth $24,734,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. United Bank acquired a new position in Eaton in the third quarter worth $258,000. GSA Capital Partners LLP bought a new stake in shares of Eaton during the 3rd quarter valued at about $295,000. KBC Group NV raised its stake in Eaton by 89.8% during the third quarter. KBC Group NV now owns 57,044 shares of the industrial products company’s stock worth $18,906,000 after acquiring an additional 26,995 shares during the period. Curi RMB Capital LLC lifted its holdings in Eaton by 36.7% in the third quarter. Curi RMB Capital LLC now owns 4,380 shares of the industrial products company’s stock worth $1,452,000 after acquiring an additional 1,176 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in Eaton by 4.4% in the third quarter. OneDigital Investment Advisors LLC now owns 7,309 shares of the industrial products company’s stock valued at $2,422,000 after acquiring an additional 305 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ETN. JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays decreased their price target 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. Jefferies Financial Group dropped their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, 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. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $357.68.

Eaton Stock Up 3.8 %

Shares of NYSE:ETN opened at $294.53 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $115.45 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm has a 50 day simple moving average of $316.31 and a 200 day simple moving average of $331.54.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 earnings per share. As a group, research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change 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 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.