12,500 Shares in Eaton Co. plc (NYSE:ETN) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, Holdings Channel.com reports. The fund purchased 12,500 shares of the industrial products company’s stock, valued at approximately $4,148,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new position in Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the 4th quarter valued at about $30,000. Groupama Asset Managment boosted its holdings in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN grew its position in Eaton by 321.7% during the fourth 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. Finally, Morse Asset Management Inc purchased a new stake in Eaton during the third quarter valued at approximately $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. 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. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price objective 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. Barclays reduced their target price on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Evercore ISI lowered their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.16.

Eaton Price Performance

Shares of Eaton stock opened at $274.05 on Friday. The firm has a market cap of $107.37 billion, a PE ratio of 28.85, a PEG ratio of 2.64 and a beta of 1.09. The stock has a 50 day moving average of $305.90 and a 200 day moving average of $331.12. 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 Co. plc has a 12 month low of $255.65 and a 12 month 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, 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 last year, the firm earned $2.55 earnings per share. On average, research 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 was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.52%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) 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.