King Wealth Management Group Has $672,000 Holdings in Eaton Co. plc (NYSE:ETN)

King Wealth Management Group trimmed its stake in shares of Eaton Co. plc (NYSE:ETN) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,025 shares of the industrial products company’s stock after selling 138 shares during the period. King Wealth Management Group’s holdings in Eaton were worth $672,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Atala Financial Inc acquired a new stake in Eaton in the fourth quarter worth about $44,000. JPL Wealth Management LLC bought a new position in shares of Eaton in the 4th quarter valued at about $819,000. Impact Capital Partners LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $582,000. Commonwealth Equity Services LLC raised its stake in shares of Eaton by 6.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 268,371 shares of the industrial products company’s stock worth $89,064,000 after buying an additional 16,059 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. acquired a new position in Eaton in the fourth quarter valued at approximately $1,991,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ETN. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Barclays decreased their target price on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Citigroup decreased their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $356.20.

Eaton Stock Performance

Shares of Eaton stock opened at $283.16 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market cap of $111.00 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The stock’s 50-day moving average is $317.27 and its 200-day moving average is $331.31. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly 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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the previous year, the company posted $2.55 earnings per share. Equities analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.47%. Eaton’s dividend 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.