Sit Investment Associates Inc. Purchases 608 Shares of Eaton Co. plc (NYSE:ETN)

Sit Investment Associates Inc. lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,939 shares of the industrial products company’s stock after buying an additional 608 shares during the quarter. Sit Investment Associates Inc.’s holdings in Eaton were worth $12,923,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton in the fourth quarter worth $30,000. Horizon Bancorp Inc. IN raised its stake in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new stake in Eaton during the third quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Eaton in the 4th quarter valued at about $33,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI decreased their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lowered their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. 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 note on Wednesday, January 15th. Melius cut 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. Finally, Melius Research restated a “hold” rating and issued a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $356.68.

Eaton Stock Performance

NYSE:ETN opened at $246.36 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. Eaton Co. plc has a fifty-two week low of $236.58 and a fifty-two week high of $379.99. The company has a 50 day simple moving average of $296.43 and a two-hundred day simple moving average of $330.00. The company has a market capitalization of $96.52 billion, a PE ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 prior year, the firm earned $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.69%. Eaton’s dividend payout ratio is presently 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.