Fox Hill Wealth Management Takes $1.34 Million Position in Eaton Co. plc (NYSE:ETN)

Fox Hill Wealth Management purchased a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,028 shares of the industrial products company’s stock, valued at approximately $1,337,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Brooklyn FI LLC acquired a new position in shares of Eaton in the fourth quarter valued at approximately $427,000. Xponance Inc. boosted its holdings in shares of Eaton by 5.0% in the fourth quarter. Xponance Inc. now owns 59,646 shares of the industrial products company’s stock valued at $19,795,000 after buying an additional 2,854 shares during the period. Generali Asset Management SPA SGR acquired a new position in shares of Eaton in the fourth quarter valued at approximately $8,510,000. Evoke Wealth LLC boosted its holdings in shares of Eaton by 21.3% in the fourth quarter. Evoke Wealth LLC now owns 1,235 shares of the industrial products company’s stock valued at $410,000 after buying an additional 217 shares during the period. Finally, Horizon Investments LLC lifted its position in shares of Eaton by 33.5% in the fourth quarter. Horizon Investments LLC now owns 16,250 shares of the industrial products company’s stock worth $5,393,000 after purchasing an additional 4,082 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

Shares of ETN opened at $290.59 on Wednesday. The firm has a market capitalization of $113.91 billion, a PE ratio of 30.59, a PEG ratio of 2.64 and a beta of 1.09. The company’s 50-day moving average is $314.23 and its 200-day moving average is $331.66. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

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 in the prior year, the firm earned $2.55 EPS. Equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $1.04 dividend. The ex-dividend date is Monday, March 10th. 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 1.43%. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ETN shares. Evercore ISI cut their price objective 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. 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. Jefferies Financial Group cut their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Barclays cut their price objective on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $357.68.

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.