Darden Wealth Group Inc Acquires 129 Shares of Eaton Co. plc (NYSE:ETN)

Darden Wealth Group Inc grew its holdings in Eaton Co. plc (NYSE:ETN) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,200 shares of the industrial products company’s stock after buying an additional 129 shares during the period. Eaton accounts for about 2.3% of Darden Wealth Group Inc’s holdings, making the stock its 8th biggest holding. Darden Wealth Group Inc’s holdings in Eaton were worth $3,385,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ETN. Flagship Wealth Advisors LLC purchased a new position in Eaton in the 4th quarter worth approximately $27,000. Noble Wealth Management PBC purchased a new position in Eaton during the fourth quarter worth approximately $30,000. Groupama Asset Managment grew its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in shares of Eaton during the 3rd quarter worth $33,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Trading Down 5.6 %

NYSE ETN opened at $246.36 on Friday. Eaton Co. plc has a 52 week low of $236.58 and a 52 week high of $379.99. The firm has a 50 day moving average of $296.43 and a two-hundred day moving average of $330.13. The stock has a market capitalization of $96.52 billion, a PE ratio of 25.93, 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 (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 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 last year, the firm earned $2.55 EPS. As a group, research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.69%. Eaton’s payout ratio is presently 43.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ETN shares. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a report on Wednesday, March 12th. Evercore ISI dropped their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada cut their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $356.68.

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.