Millstone Evans Group LLC Takes $277,000 Position in Eaton Co. plc (NYSE:ETN)

Millstone Evans Group LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 836 shares of the industrial products company’s stock, valued at approximately $277,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mindset Wealth Management LLC lifted its stake in Eaton by 38.0% during the fourth quarter. Mindset Wealth Management LLC now owns 1,090 shares of the industrial products company’s stock worth $362,000 after purchasing an additional 300 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Eaton during the fourth quarter worth approximately $107,000. Independent Solutions Wealth Management LLC lifted its stake in Eaton by 2.1% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 10,727 shares of the industrial products company’s stock worth $3,560,000 after purchasing an additional 222 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Eaton by 2.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 105,964 shares of the industrial products company’s stock worth $35,165,000 after purchasing an additional 2,964 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its stake in Eaton by 19.2% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 3,015 shares of the industrial products company’s stock worth $1,001,000 after purchasing an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $295.88 on Friday. The company has a market cap of $115.92 billion, a P/E ratio of 31.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business has a fifty day moving average of $311.30 and a two-hundred day moving average of $331.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the business earned $2.55 earnings per share. As a group, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend 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 yield of 1.41%. Eaton’s payout ratio is currently 43.79%.

Wall Street Analyst Weigh In

ETN has been the subject of several recent analyst reports. Barclays decreased their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a research note on Friday. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Citigroup reduced their price target 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. Finally, KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.68.

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.