May Hill Capital LLC Invests $316,000 in Eaton Co. plc (NYSE:ETN)

May Hill Capital LLC acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) during the fourth quarter, HoldingsChannel reports. The fund acquired 954 shares of the industrial products company’s stock, valued at approximately $316,000.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Barclays reduced their price target on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Citigroup lowered their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group dropped their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $357.16.

Eaton Stock Performance

Shares of Eaton stock opened at $271.98 on Tuesday. The business has a 50 day moving average price of $304.41 and a 200-day moving average price of $331.44. The company has a market cap of $106.55 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 business earned $2.55 earnings per share. Equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.53%. This is an increase from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. Eaton’s payout ratio is presently 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.