Eaton Co. plc (NYSE:ETN) Stake Raised by Banco de Sabadell S.A

Banco de Sabadell S.A raised its holdings in Eaton Co. plc (NYSE:ETN) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,843 shares of the industrial products company’s stock after acquiring an additional 58 shares during the quarter. Eaton comprises approximately 3.6% of Banco de Sabadell S.A’s investment portfolio, making the stock its 4th largest holding. Banco de Sabadell S.A’s holdings in Eaton were worth $4,602,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ETN. Flagship Wealth Advisors LLC purchased a new position in Eaton in the fourth quarter valued at $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton in the 4th quarter valued at about $30,000. Groupama Asset Managment grew its position in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after buying an additional 74 shares during the period. Finally, Morse Asset Management Inc acquired a new stake in Eaton in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Up 0.1 %

ETN opened at $295.88 on Friday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The business has a 50 day moving average price of $311.30 and a two-hundred day moving average price of $331.37. 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 company has a market cap of $115.92 billion, a PE ratio of 31.14, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly 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 quarter in the previous year, the firm earned $2.55 earnings per share. As a group, research analysts anticipate 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. Stockholders of record on Monday, March 10th will be issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. Eaton’s payout ratio is presently 43.79%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ETN shares. Barclays dropped their price objective on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. 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. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a report on Wednesday, March 12th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. Finally, Jefferies Financial Group decreased 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, March 12th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Eaton presently 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.