Financial Engines Advisors L.L.C. Acquires 1,935 Shares of Eaton Co. plc (NYSE:ETN)

Financial Engines Advisors L.L.C. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 166.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,097 shares of the industrial products company’s stock after purchasing an additional 1,935 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Eaton were worth $1,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Penobscot Investment Management Company Inc. boosted its stake in Eaton by 3.9% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,434 shares of the industrial products company’s stock valued at $1,140,000 after acquiring an additional 129 shares during the last quarter. UNIVEST FINANCIAL Corp bought a new stake in shares of Eaton in the 4th quarter worth approximately $1,105,000. Trust Investment Advisors lifted its stake in Eaton by 10.6% in the fourth quarter. Trust Investment Advisors now owns 6,579 shares of the industrial products company’s stock valued at $2,183,000 after purchasing an additional 628 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the fourth quarter valued at $33,000. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Eaton by 0.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,780 shares of the industrial products company’s stock valued at $11,874,000 after buying an additional 220 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a research note on Wednesday, March 12th. Wells Fargo & Company reduced their price objective 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. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group reduced their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $357.16.

Eaton Trading Down 1.6 %

Shares of ETN opened at $281.04 on Friday. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a market capitalization of $110.10 billion, a P/E ratio of 29.58, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $307.35 and its 200 day simple moving average is $331.22.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $2.55 earnings per share. Sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend yield of 1.48%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio (DPR) 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.