Richwood Investment Advisors LLC Decreases Holdings in Eaton Co. plc (NYSE:ETN)

Richwood Investment Advisors LLC trimmed its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,228 shares of the industrial products company’s stock after selling 40 shares during the period. Eaton accounts for about 0.9% of Richwood Investment Advisors LLC’s holdings, making the stock its 24th biggest holding. Richwood Investment Advisors LLC’s holdings in Eaton were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC purchased a new stake in Eaton during the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new position in Eaton in the 4th quarter valued at about $30,000. Groupama Asset Managment boosted its position 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 buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN boosted its position 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 buying an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter valued at about $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Up 0.1 %

Shares of NYSE:ETN opened at $295.88 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $115.92 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The firm has a 50 day simple moving average of $311.30 and a 200 day simple moving average of $331.37.

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

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ETN. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday. Barclays cut 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 note on Monday, March 3rd. Finally, 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 research note on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.68.

About Eaton

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.