Axxcess Wealth Management LLC Has $1.39 Million Holdings in Eaton Co. plc (NYSE:ETN)

Axxcess Wealth Management LLC lessened its position in Eaton Co. plc (NYSE:ETN) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,190 shares of the industrial products company’s stock after selling 109 shares during the period. Axxcess Wealth Management LLC’s holdings in Eaton were worth $1,390,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton in the fourth quarter valued at approximately $30,000. Horizon Bancorp Inc. IN lifted its holdings in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of Eaton in the third quarter valued at approximately $33,000. Finally, Activest Wealth Management lifted its holdings in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $294.52 on Thursday. The stock has a market cap of $115.45 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 quick ratio of 0.96 and a current ratio of 1.50. The stock has a fifty day moving average of $313.21 and a 200-day moving average of $331.40.

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

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.41%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ETN shares. Royal Bank of Canada dropped their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Evercore ISI dropped their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. KeyCorp upgraded 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. JPMorgan Chase & Co. dropped their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

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.