Johnson Investment Counsel Inc. Buys 173 Shares of Eaton Co. plc (NYSE:ETN)

Johnson Investment Counsel Inc. grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,179 shares of the industrial products company’s stock after acquiring an additional 173 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Eaton were worth $2,382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. United Bank purchased a new stake in shares of Eaton during the third quarter valued at $258,000. Wolverine Asset Management LLC purchased a new stake in shares of Eaton during the third quarter valued at $1,160,000. Venturi Wealth Management LLC boosted its position in shares of Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after buying an additional 32 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Eaton by 72.2% during the third quarter. Nations Financial Group Inc. IA ADV now owns 3,419 shares of the industrial products company’s stock valued at $1,133,000 after buying an additional 1,434 shares during the last quarter. Finally, Entropy Technologies LP boosted its position in shares of Eaton by 67.5% during the third quarter. Entropy Technologies LP now owns 16,018 shares of the industrial products company’s stock valued at $5,309,000 after buying an additional 6,456 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 1.9 %

Shares of ETN opened at $282.89 on Wednesday. The business’s 50 day moving average is $319.04 and its 200 day moving average is $331.92. The company has a market capitalization of $110.89 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. 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 issued its 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 return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the firm posted $2.55 EPS. Research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is 43.79%.

Insider Activity at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ETN shares. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI dropped their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Melius cut 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 raised their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Seven equities research 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $362.58.

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.