15,506 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Terra Alpha Investments LLC

Terra Alpha Investments LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,506 shares of the industrial products company’s stock, valued at approximately $5,146,000. Eaton comprises about 5.2% of Terra Alpha Investments LLC’s investment portfolio, making the stock its 5th largest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Eaton by 6.9% during the 4th quarter. Parallel Advisors LLC now owns 8,113 shares of the industrial products company’s stock worth $2,693,000 after purchasing an additional 526 shares during the last quarter. Cibc World Markets Corp lifted its holdings in Eaton by 15.3% during the 4th quarter. Cibc World Markets Corp now owns 62,464 shares of the industrial products company’s stock worth $20,730,000 after purchasing an additional 8,297 shares during the last quarter. SlateStone Wealth LLC lifted its holdings in Eaton by 4.0% during the 4th quarter. SlateStone Wealth LLC now owns 4,630 shares of the industrial products company’s stock worth $1,536,000 after purchasing an additional 176 shares during the last quarter. First National Advisers LLC lifted its holdings in Eaton by 3.7% during the 4th quarter. First National Advisers LLC now owns 10,396 shares of the industrial products company’s stock worth $3,451,000 after purchasing an additional 369 shares during the last quarter. Finally, Glenview Trust co lifted its holdings in Eaton by 7.2% during the 4th quarter. Glenview Trust co now owns 10,843 shares of the industrial products company’s stock worth $3,598,000 after purchasing an additional 728 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Barclays dropped their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a report on Wednesday, March 12th. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Melius Research reaffirmed a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. 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 data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $357.68.

Eaton Trading Up 3.8 %

Shares of ETN stock opened at $294.53 on Monday. The firm has a market capitalization of $115.45 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. 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 stock’s fifty day simple moving average is $316.31 and its 200 day simple moving average is $331.81.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS 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 period last year, the firm posted $2.55 EPS. As a group, sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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%. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is 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.