Providence Capital Advisors LLC Acquires 60 Shares of Eaton Co. plc (NYSE:ETN)

Providence Capital Advisors LLC lifted its stake in Eaton Co. plc (NYSE:ETN) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,206 shares of the industrial products company’s stock after purchasing an additional 60 shares during the quarter. Eaton accounts for approximately 1.3% of Providence Capital Advisors LLC’s holdings, making the stock its 28th biggest position. Providence Capital Advisors LLC’s holdings in Eaton were worth $6,374,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Eaton in the fourth quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in Eaton during the fourth quarter valued at about $30,000. Horizon Bancorp Inc. IN increased its position in Eaton by 321.7% during the 4th 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 in the last quarter. Morse Asset Management Inc purchased a new stake in Eaton during the 3rd quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Eaton in the 4th quarter valued at $33,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ETN shares. Wells Fargo & Company lowered their price target 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. StockNews.com lowered Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. 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. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a report on Wednesday, March 12th. Finally, 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. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $357.16.

Eaton Price Performance

Shares of ETN opened at $281.04 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $110.10 billion, a PE ratio of 29.58, a P/E/G 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 stock has a 50 day simple moving average of $307.35 and a 200 day simple moving average of $331.22.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping 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 quarter in the previous year, the business earned $2.55 earnings per share. Sell-side analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s dividend payout ratio is currently 43.79%.

Eaton 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.