O Shaughnessy Asset Management LLC Has $22.69 Million Stake in Eaton Co. plc (NYSE:ETN)

O Shaughnessy Asset Management LLC grew its stake in Eaton Co. plc (NYSE:ETN) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,369 shares of the industrial products company’s stock after acquiring an additional 4,123 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Eaton were worth $22,690,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the 4th quarter worth approximately $30,000. Horizon Bancorp Inc. IN lifted its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton during the fourth quarter worth $33,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ETN shares. Barclays reduced their target price on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a report on Wednesday, March 12th. Wells Fargo & Company cut their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Melius Research reaffirmed a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada cut their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $357.16.

Eaton Stock Performance

Eaton stock opened at $274.05 on Monday. The stock has a market cap of $107.37 billion, a PE ratio of 28.85, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The business’s 50-day moving average price is $305.90 and its two-hundred day moving average price is $331.66.

Eaton (NYSE:ETN) last issued 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the business posted $2.55 earnings per share. As a group, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is presently 43.79%.

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.