Eaton Co. plc (NYSE:ETN) Shares Acquired by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 31.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,474 shares of the industrial products company’s stock after acquiring an additional 2,036 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Eaton were worth $2,812,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $30,000. Groupama Asset Managment increased its stake in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter valued at about $33,000. Finally, Activest Wealth Management grew its holdings in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

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

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 1.47%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ETN shares. Wells Fargo & Company reduced their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a report on Tuesday, January 28th. Barclays lowered their price target on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Finally, KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given 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 $356.20.

About Eaton

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.