SlateStone Wealth LLC Has $1.54 Million Holdings in Eaton Co. plc (NYSE:ETN)

SlateStone Wealth LLC boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,630 shares of the industrial products company’s stock after purchasing an additional 176 shares during the quarter. SlateStone Wealth LLC’s holdings in Eaton were worth $1,536,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its holdings in shares of Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. acquired a new position in shares of Eaton in the 4th quarter valued at about $297,000. Webster Bank N. A. increased its holdings in shares of Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after purchasing an additional 6,166 shares during the period. Ballentine Partners LLC increased its holdings in shares of Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 790 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after purchasing an additional 1,694 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 3.8 %

Shares of ETN stock opened at $294.53 on Monday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The firm 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 stock has a 50 day moving average of $316.31 and a 200-day moving average of $331.81. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 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 quarter last year, the firm earned $2.55 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid 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 is Monday, March 10th. Eaton’s dividend payout ratio is presently 43.79%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ETN. JPMorgan Chase & Co. dropped their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Jefferies Financial Group lowered their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research note on Wednesday, March 12th. Finally, Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $357.68.

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.