Mindset Wealth Management LLC Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Mindset Wealth Management LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 38.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,090 shares of the industrial products company’s stock after buying an additional 300 shares during the quarter. Mindset Wealth Management LLC’s holdings in Eaton were worth $362,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC purchased a new stake in Eaton in the 4th quarter valued at $30,000. Horizon Bancorp Inc. IN raised its position 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 purchasing an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the 3rd quarter valued at $33,000. Finally, Activest Wealth Management raised its position in Eaton by 621.4% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $295.34 on Friday. The stock has a market cap of $115.71 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company’s 50-day moving average price is $312.21 and its 200 day moving average price is $331.15. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates 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 previous year, the business posted $2.55 EPS. As a group, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business 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 $1.04 dividend. The ex-dividend date is Monday, March 10th. 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%. Eaton’s dividend payout ratio (DPR) is currently 43.79%.

Wall Street Analyst Weigh In

ETN has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a research report on Wednesday, March 12th. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada cut their price objective 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. Finally, Citigroup cut their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price 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.