Fox Hill Wealth Management Takes $1.34 Million Position in Eaton Co. plc (NYSE:ETN)

Fox Hill Wealth Management acquired a new stake in Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,028 shares of the industrial products company’s stock, valued at approximately $1,337,000.

A number of other hedge funds also recently made changes to their positions in the business. Brooklyn FI LLC acquired a new position in shares of Eaton in the 4th quarter valued at $427,000. Xponance Inc. increased its position in shares of Eaton by 5.0% during the 4th quarter. Xponance Inc. now owns 59,646 shares of the industrial products company’s stock worth $19,795,000 after purchasing an additional 2,854 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Eaton during the 4th quarter worth about $8,510,000. Evoke Wealth LLC increased its position in shares of Eaton by 21.3% during the 4th quarter. Evoke Wealth LLC now owns 1,235 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 217 shares in the last quarter. Finally, Horizon Investments LLC increased its position in shares of Eaton by 33.5% during the 4th quarter. Horizon Investments LLC now owns 16,250 shares of the industrial products company’s stock worth $5,393,000 after purchasing an additional 4,082 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ETN. Melius cut shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Citigroup dropped their target price 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. Barclays dropped their target price on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. 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. Finally, Royal Bank of Canada lowered their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $357.68.

Eaton Stock Down 2.2 %

Shares of NYSE:ETN opened at $290.59 on Wednesday. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The company has a 50 day moving average of $314.23 and a 200-day moving average of $331.66. 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 stock has a market cap of $113.91 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (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 quarter in the previous year, the company earned $2.55 earnings per share. On average, sell-side analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.43%. 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.