Carret Asset Management LLC Has $9.63 Million Holdings in Eaton Co. plc (NYSE:ETN)

Carret Asset Management LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,007 shares of the industrial products company’s stock after selling 729 shares during the period. Eaton accounts for approximately 1.1% of Carret Asset Management LLC’s holdings, making the stock its 18th biggest holding. Carret Asset Management LLC’s holdings in Eaton were worth $9,627,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. United Bank acquired a new stake in shares of Eaton in the 3rd quarter valued at approximately $258,000. GSA Capital Partners LLP acquired a new stake in shares of Eaton in the 3rd quarter valued at approximately $295,000. MQS Management LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at approximately $474,000. Cable Hill Partners LLC acquired a new stake in shares of Eaton in the 3rd quarter valued at approximately $211,000. Finally, Plato Investment Management Ltd raised its position in shares of Eaton by 21.4% in the 3rd quarter. Plato Investment Management Ltd now owns 14,010 shares of the industrial products company’s stock valued at $4,639,000 after acquiring an additional 2,466 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the topic of several research analyst reports. Royal Bank of Canada dropped their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Melius downgraded 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. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Finally, Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $356.20.

Eaton Stock Down 3.0 %

Eaton stock opened at $283.16 on Friday. The company has a fifty day simple moving average of $317.27 and a 200 day simple moving average of $331.31. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The company has a market cap of $111.00 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the firm posted $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.47%. 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 dividend payout ratio (DPR) is 43.79%.

Eaton Company 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.