Eaton Co. plc (NYSE:ETN) Stock Holdings Lifted by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lifted its position in Eaton Co. plc (NYSE:ETN) by 2.2% in the 4th quarter, Holdings Channel reports. The fund owned 124,192 shares of the industrial products company’s stock after buying an additional 2,623 shares during the period. Congress Wealth Management LLC DE’s holdings in Eaton were worth $41,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in Eaton during the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN increased its stake 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 period. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter worth approximately $33,000. Finally, Activest Wealth Management boosted its stake in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 0.1 %

ETN stock opened at $295.88 on Monday. The business has a fifty day moving average price of $311.30 and a 200 day moving average price of $331.67. 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 Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99. The stock has a market capitalization of $115.92 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its 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 period last year, the firm earned $2.55 earnings per share. Analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. This is a boost 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 of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ETN shares. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Wells Fargo & Company dropped their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Barclays decreased their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

Eaton 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.