Millstone Evans Group LLC Purchases Shares of 836 Eaton Co. plc (NYSE:ETN)

Millstone Evans Group LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 836 shares of the industrial products company’s stock, valued at approximately $277,000.

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

Eaton Stock Up 0.1 %

Shares of NYSE ETN opened at $295.88 on Friday. The stock has a fifty day moving average price of $311.30 and a 200 day moving average price of $331.08. The company has a market cap of $115.92 billion, a P/E ratio of 31.14, a P/E/G 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 announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 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 company posted $2.55 EPS. Research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared 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 is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.41%. Eaton’s payout ratio is 43.79%.

Analyst Upgrades and Downgrades

ETN has been the topic of several recent analyst reports. StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday. Melius Research restated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays decreased their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Evercore ISI decreased their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Eight equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $357.68.

Eaton Company 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.