Cyrus J. Lawrence LLC Invests $8.11 Million in Eaton Co. plc (NYSE:ETN)

Cyrus J. Lawrence LLC acquired a new position in Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 24,452 shares of the industrial products company’s stock, valued at approximately $8,114,000.

Several other large investors have also recently modified their holdings of ETN. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the fourth quarter worth about $30,000. Groupama Asset Managment grew its stake in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of Eaton in the third quarter worth about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ETN. Citigroup cut their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 target price on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Finally, Jefferies Financial Group reduced their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $357.68.

Eaton Stock Performance

ETN stock opened at $295.88 on Friday. The stock has a market capitalization of $115.92 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. 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 stock’s 50 day simple moving average is $311.30 and its 200 day simple moving average is $331.08.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm posted $2.55 EPS. As a group, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date 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 1.41%. 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.