Stratos Wealth Partners LTD. trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,253 shares of the industrial products company’s stock after selling 1,012 shares during the period. Stratos Wealth Partners LTD.’s holdings in Eaton were worth $3,354,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Canandaigua National Corp grew its position in Eaton by 0.4% in the 1st quarter. Canandaigua National Corp now owns 17,244 shares of the industrial products company’s stock worth $2,385,000 after purchasing an additional 73 shares during the last quarter. Janney Capital Management LLC grew its position in Eaton by 0.7% in the 4th quarter. Janney Capital Management LLC now owns 12,599 shares of the industrial products company’s stock worth $1,514,000 after purchasing an additional 83 shares during the last quarter. Schneider Downs Wealth Management Advisors LP grew its position in Eaton by 1.8% in the 4th quarter. Schneider Downs Wealth Management Advisors LP now owns 5,131 shares of the industrial products company’s stock worth $616,000 after purchasing an additional 90 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Eaton by 3.9% in the fourth quarter. Jacobi Capital Management LLC now owns 2,506 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 95 shares in the last quarter. Finally, Bangor Savings Bank increased its stake in shares of Eaton by 0.7% during the fourth quarter. Bangor Savings Bank now owns 13,376 shares of the industrial products company’s stock valued at $1,607,000 after acquiring an additional 97 shares during the period. Institutional investors own 77.88% of the company’s stock.
ETN has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Eaton from $115.00 to $125.00 and gave the company an “underweight” rating in a research note on Tuesday, April 6th. Royal Bank of Canada raised their target price on shares of Eaton from $112.00 to $119.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $150.00 price objective for the company. in a research note on Tuesday, April 6th. Oppenheimer lifted their target price on shares of Eaton from $133.00 to $145.00 in a research note on Tuesday, March 2nd. Finally, Citigroup lifted their target price on shares of Eaton from $142.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, March 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Eaton has an average rating of “Buy” and a consensus price target of $136.94.
NYSE ETN opened at $144.36 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $57.51 billion, a price-to-earnings ratio of 42.46, a P/E/G ratio of 2.34 and a beta of 1.12. The firm’s 50 day simple moving average is $139.77 and its 200 day simple moving average is $125.13. Eaton Co. plc has a 1 year low of $70.54 and a 1 year high of $145.95.
Eaton (NYSE:ETN) last issued its quarterly earnings data on Monday, February 1st. The industrial products company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.08. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.62 billion. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 EPS. On average, equities research analysts forecast that Eaton Co. plc will post 4.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 14th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, May 13th. Eaton’s payout ratio is 53.62%.
Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.
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