Douglass Winthrop Advisors LLC Has $1 Million Position in Eaton Co. plc (NYSE:ETN)

Douglass Winthrop Advisors LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,015 shares of the industrial products company’s stock after buying an additional 485 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Eaton were worth $1,001,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new position in Eaton in the 4th quarter worth about $30,000. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in Eaton in the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $295.88 on Friday. The business’s 50 day moving average is $311.30 and its 200-day moving average is $331.08. 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 firm has a market capitalization of $115.92 billion, a PE ratio of 31.14, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the firm posted $2.55 EPS. Sell-side analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ETN shares. Wells Fargo & Company reduced their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Royal Bank of Canada lowered their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Melius Research reaffirmed a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Jefferies Financial Group lowered their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average price target 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.