Darden Wealth Group Inc Has $3.39 Million Stake in Eaton Co. plc (NYSE:ETN)

Darden Wealth Group Inc grew its position in Eaton Co. plc (NYSE:ETN) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,200 shares of the industrial products company’s stock after buying an additional 129 shares during the period. Eaton accounts for about 2.3% of Darden Wealth Group Inc’s portfolio, making the stock its 8th largest position. Darden Wealth Group Inc’s holdings in Eaton were worth $3,385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETN. Wetzel Investment Advisors Inc. lifted its holdings in shares of Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the last quarter. Westmount Partners LLC raised its stake in Eaton by 3.1% in the fourth quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after buying an additional 30 shares during the last quarter. Signal Advisors Wealth LLC boosted its holdings in Eaton by 3.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 30 shares in the last quarter. Lantz Financial LLC grew its stake in shares of Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 30 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in shares of Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock valued at $544,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several research analyst reports. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Jefferies Financial Group cut their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a report on Wednesday, March 12th. Finally, Royal Bank of Canada decreased their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $356.68.

Eaton Price Performance

NYSE:ETN opened at $246.36 on Friday. The stock has a market capitalization of $96.52 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 52 week low of $236.58 and a 52 week high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average price is $296.43 and its 200-day moving average price is $330.13.

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 the consensus estimate 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 quarter in the prior year, the business posted $2.55 earnings per share. As a group, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s 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.