NEOS Investment Management LLC Has $15.32 Million Stake in Eaton Co. plc (NYSE:ETN)

NEOS Investment Management LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 30.9% in the 4th quarter, Holdings Channel reports. The firm owned 46,151 shares of the industrial products company’s stock after purchasing an additional 10,900 shares during the period. NEOS Investment Management LLC’s holdings in Eaton were worth $15,316,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. United Bank bought a new position in shares of Eaton in the third quarter worth about $258,000. Penserra Capital Management LLC grew its holdings in Eaton by 2.1% in the 3rd quarter. Penserra Capital Management LLC now owns 2,116 shares of the industrial products company’s stock valued at $699,000 after buying an additional 43 shares during the last quarter. Truvestments Capital LLC bought a new position in Eaton in the 3rd quarter worth approximately $144,000. Avestar Capital LLC lifted its holdings in shares of Eaton by 1.7% during the third quarter. Avestar Capital LLC now owns 2,628 shares of the industrial products company’s stock worth $871,000 after buying an additional 45 shares during the last quarter. Finally, Baldwin Investment Management LLC boosted its position in shares of Eaton by 5.5% in the third quarter. Baldwin Investment Management LLC now owns 10,287 shares of the industrial products company’s stock valued at $3,410,000 after acquiring an additional 539 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research report on Wednesday, March 12th. StockNews.com downgraded Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Barclays cut their price target on Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.16.

Eaton Price Performance

Shares of Eaton stock opened at $285.60 on Thursday. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm’s 50-day moving average price is $308.63 and its two-hundred day moving average price is $331.57. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $111.89 billion, a price-to-earnings ratio of 30.06, 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 earnings per share for the quarter, beating 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 in the previous year, the business posted $2.55 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 43.79%.

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.