Northwest & Ethical Investments L.P. Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Northwest & Ethical Investments L.P. grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 57.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,571 shares of the industrial products company’s stock after acquiring an additional 7,907 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Eaton were worth $7,159,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton during the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton in the fourth quarter worth approximately $30,000. Horizon Bancorp Inc. IN grew its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter worth approximately $33,000. Finally, Activest Wealth Management grew its holdings in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

Shares of Eaton stock opened at $295.34 on Friday. 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 $115.71 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.64 and a beta of 1.09. The business has a fifty day simple moving average of $312.21 and a two-hundred day simple moving average of $331.15. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 last year, the company earned $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ETN. Citigroup cut their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada cut their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company cut their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Evercore ISI cut their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, 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 report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently 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.