Evoke Wealth LLC Boosts Position in Eaton Co. plc (NYSE:ETN)

Evoke Wealth LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 21.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,235 shares of the industrial products company’s stock after buying an additional 217 shares during the quarter. Evoke Wealth LLC’s holdings in Eaton were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Eaton by 253.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Eaton by 390.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock worth $193,421,000 after purchasing an additional 429,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Eaton by 3,508.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after purchasing an additional 390,595 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a research note on Wednesday, March 12th. Finally, Evercore ISI reduced their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Seven 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton Trading Up 1.3 %

NYSE ETN opened at $294.52 on Thursday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The stock has a market cap 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. The stock’s fifty day moving average price is $313.21 and its 200-day moving average price is $331.40. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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 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 prior year, the company earned $2.55 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This is an increase from Eaton’s previous quarterly dividend of $0.94. 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. Eaton’s dividend payout ratio is presently 43.79%.

Eaton 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.