Greenwich Wealth Management LLC Raises Holdings in Eaton Co. plc (NYSE:ETN)

Greenwich Wealth Management LLC increased its position in Eaton Co. plc (NYSE:ETN) by 8.2% in the 4th quarter, Holdings Channel reports. The firm owned 741 shares of the industrial products company’s stock after buying an additional 56 shares during the period. Greenwich Wealth Management LLC’s holdings in Eaton were worth $246,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. United Bank purchased a new position in shares of Eaton during the third quarter worth approximately $258,000. GSA Capital Partners LLP purchased a new position in Eaton during the 3rd quarter worth $295,000. OneDigital Investment Advisors LLC increased its stake in Eaton by 4.4% in the third quarter. OneDigital Investment Advisors LLC now owns 7,309 shares of the industrial products company’s stock valued at $2,422,000 after purchasing an additional 305 shares during the period. Impax Asset Management Group plc purchased a new stake in shares of Eaton in the third quarter valued at about $2,347,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Eaton during the third quarter worth about $229,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ETN shares. Wells Fargo & Company reduced their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Evercore ISI cut their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Finally, Citigroup lowered 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. Seven 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.68.

Eaton Price Performance

Eaton stock opened at $294.53 on Monday. 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’s 50-day simple moving average is $316.31 and its 200 day simple moving average is $331.81. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The firm has a market capitalization of $115.45 billion, a PE ratio of 31.00, a P/E/G 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 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 last year, the firm earned $2.55 EPS. On average, equities research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed 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 is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, March 10th. Eaton’s dividend payout ratio is currently 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.