Carret Asset Management LLC Has $9.63 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Carret Asset Management LLC lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,007 shares of the industrial products company’s stock after selling 729 shares during the quarter. Eaton comprises about 1.1% of Carret Asset Management LLC’s portfolio, making the stock its 18th largest holding. Carret Asset Management LLC’s holdings in Eaton were worth $9,627,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Wetzel Investment Advisors Inc. grew its holdings in Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 28 shares during the last quarter. Westmount Partners LLC lifted its position 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 worth $327,000 after purchasing an additional 30 shares during the period. Signal Advisors Wealth LLC lifted its position in shares of Eaton by 3.5% in the 4th 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 lifted its position in shares of Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of 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 worth $544,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

ETN opened at $283.16 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $317.27 and its two-hundred day moving average price is $331.31. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a market cap of $111.00 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.64 and a beta of 1.09.

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

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.47%. Eaton’s dividend payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ETN shares. Royal Bank of Canada dropped their price target on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Melius Research restated a “hold” rating and issued a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company dropped their price target on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $356.20.

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.