PKS Advisory Services LLC Makes New Investment in Eaton Co. plc (NYSE:ETN)

PKS Advisory Services LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,673 shares of the industrial products company’s stock, valued at approximately $556,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. grew its position in Eaton by 48.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. acquired a new position in shares of Eaton in the 4th quarter valued at $297,000. Webster Bank N. A. grew its holdings in shares of Eaton by 52.4% during the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after purchasing an additional 6,166 shares during the period. Ballentine Partners LLC increased its position in shares of Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after buying an additional 1,694 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Citigroup decreased their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. reduced 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. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $357.68.

Eaton Price Performance

NYSE:ETN opened at $300.11 on Wednesday. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. The firm has a market cap of $117.57 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company’s 50-day moving average is $309.76 and its two-hundred day moving average is $331.90. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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 analysts’ consensus estimates 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 in the prior year, the company earned $2.55 earnings per share. Research analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is 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.