Eaton Co. plc (NYSE:ETN) Shares Bought by Bank of Marin

Bank of Marin grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 26.5% in the 4th quarter, Holdings Channel reports. The fund owned 1,195 shares of the industrial products company’s stock after acquiring an additional 250 shares during the period. Bank of Marin’s holdings in Eaton were worth $397,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ETN. United Bank acquired a new stake in shares of Eaton during the third quarter valued at about $258,000. GSA Capital Partners LLP acquired a new stake in shares of Eaton during the third quarter valued at about $295,000. Thrivent Financial for Lutherans grew its stake in shares of Eaton by 38.7% during the third quarter. Thrivent Financial for Lutherans now owns 80,187 shares of the industrial products company’s stock valued at $26,576,000 after acquiring an additional 22,367 shares in the last quarter. Joseph Group Capital Management grew its stake in shares of Eaton by 27.6% during the third quarter. Joseph Group Capital Management now owns 12,849 shares of the industrial products company’s stock valued at $4,259,000 after acquiring an additional 2,782 shares in the last quarter. Finally, Aviance Capital Partners LLC lifted its position in shares of Eaton by 1.7% during the third quarter. Aviance Capital Partners LLC now owns 2,026 shares of the industrial products company’s stock worth $671,000 after purchasing an additional 34 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN opened at $290.59 on Wednesday. The business’s 50 day moving average is $314.23 and its 200-day moving average is $331.66. The stock has a market cap of $113.91 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99.

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 analysts’ consensus estimates 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 earned $2.55 EPS. On average, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently disclosed 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 represents a $4.16 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Analyst Ratings Changes

Several equities analysts have recently commented on ETN shares. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price target 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. Evercore ISI reduced their price target 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. Citigroup reduced their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price target 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. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target 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.