Level Four Advisory Services LLC grew its holdings in Eaton Co. plc (NYSE:ETN – Get Rating) by 65.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,779 shares of the industrial products company’s stock after acquiring an additional 20,847 shares during the quarter. Eaton accounts for 0.7% of Level Four Advisory Services LLC’s portfolio, making the stock its 22nd largest holding. Level Four Advisory Services LLC’s holdings in Eaton were worth $9,121,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of ETN. EagleClaw Capital Managment LLC raised its stake in shares of Eaton by 2.0% in the third quarter. EagleClaw Capital Managment LLC now owns 45,450 shares of the industrial products company’s stock valued at $6,788,000 after purchasing an additional 875 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Eaton by 49.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 22,376 shares of the industrial products company’s stock worth $3,341,000 after acquiring an additional 7,453 shares in the last quarter. Parsec Financial Management Inc. acquired a new position in Eaton during the third quarter worth $201,000. Essex Financial Services Inc. raised its stake in Eaton by 48.0% during the third quarter. Essex Financial Services Inc. now owns 2,970 shares of the industrial products company’s stock worth $443,000 after acquiring an additional 963 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Eaton by 6.0% during the third quarter. Goldman Sachs Group Inc. now owns 2,955,694 shares of the industrial products company’s stock worth $441,315,000 after acquiring an additional 166,639 shares in the last quarter. 79.10% of the stock is owned by institutional investors.
ETN has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on Eaton from $149.00 to $159.00 in a report on Wednesday, May 4th. Royal Bank of Canada increased their target price on Eaton from $153.00 to $156.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 2nd. Wolfe Research decreased their target price on Eaton from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Monday, February 7th. Deutsche Bank Aktiengesellschaft decreased their price target on Eaton from $176.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Finally, Robert W. Baird raised their price target on Eaton from $150.00 to $155.00 in a report on Tuesday, May 3rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $173.47.
Eaton stock traded down $0.44 during midday trading on Thursday, reaching $136.08. The stock had a trading volume of 2,965,848 shares, compared to its average volume of 2,133,018. The firm’s fifty day simple moving average is $147.28 and its 200-day simple moving average is $157.73. Eaton Co. plc has a 1-year low of $132.38 and a 1-year high of $175.72. The stock has a market capitalization of $54.30 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 0.99.
Eaton (NYSE:ETN – Get Rating) last announced its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $1.44 EPS. Eaton’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Eaton Co. plc will post 7.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, May 12th. Eaton’s dividend payout ratio (DPR) is 58.59%.
About Eaton (Get Rating)
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.
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