266 Shares in Eaton Co. plc (NYSE:ETN) Bought by Physician Wealth Advisors Inc.

Physician Wealth Advisors Inc. bought a new stake in Eaton Co. plc (NYSE:ETN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 266 shares of the industrial products company’s stock, valued at approximately $88,000.

Several other hedge funds have also made changes to their positions in the business. Wetzel Investment Advisors Inc. raised its stake in Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares during the last quarter. Westmount Partners LLC raised its stake in shares of Eaton by 3.1% during the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC lifted its holdings in shares of Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 30 shares during the period. Lantz Financial LLC grew its position in Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after buying an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Eaton by 2.0% in the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of several recent analyst reports. 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. Wells Fargo & Company dropped their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group reduced 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. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Melius Research reissued a “hold” rating and issued a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $357.16.

Eaton Price Performance

ETN stock opened at $274.05 on Monday. The stock’s 50 day moving average price is $305.90 and its 200 day moving average price is $331.66. The firm has a market cap of $107.37 billion, a P/E ratio of 28.85, a PEG ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the company earned $2.55 EPS. On average, sell-side analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

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.