RFG Bristol Wealth Advisors LLC Takes $4.66 Million Position in Eaton Co. plc (NYSE:ETN)

RFG Bristol Wealth Advisors LLC purchased a new position in Eaton Co. plc (NYSE:ETN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,053 shares of the industrial products company’s stock, valued at approximately $4,664,000. Eaton accounts for about 1.5% of RFG Bristol Wealth Advisors LLC’s investment portfolio, making the stock its 17th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. increased its position in Eaton by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares during the last quarter. Westmount Partners LLC increased its position in shares of Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC lifted its stake in shares of Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares during the period. Lantz Financial LLC boosted its holdings in shares of Eaton by 4.8% in the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after buying an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after buying an additional 32 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ETN. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada decreased their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $357.16.

Eaton Stock Up 1.8 %

ETN opened at $276.77 on Wednesday. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $302.79 and a two-hundred day simple moving average of $331.23. The company has a market capitalization of $108.43 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 previous year, the firm posted $2.55 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were 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 of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. 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.