Joseph Group Capital Management Has $4.64 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Joseph Group Capital Management increased its stake in Eaton Co. plc (NYSE:ETN) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,977 shares of the industrial products company’s stock after buying an additional 1,128 shares during the quarter. Eaton makes up 1.8% of Joseph Group Capital Management’s holdings, making the stock its 15th biggest position. Joseph Group Capital Management’s holdings in Eaton were worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ETN. Vanguard Group Inc. raised its holdings in shares of Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock valued at $12,351,506,000 after purchasing an additional 99,291 shares during the period. Geode Capital Management LLC raised its stake in Eaton by 0.7% in the third quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after buying an additional 56,516 shares during the period. Norges Bank acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $1,495,582,000. Franklin Resources Inc. increased its holdings in shares of Eaton by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock valued at $801,798,000 after acquiring an additional 597,700 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of ETN opened at $274.05 on Friday. The firm’s fifty day simple moving average is $305.90 and its two-hundred day simple moving average is $331.42. 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 has a market capitalization of $107.37 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 period in the prior year, the company earned $2.55 earnings per share. As a group, analysts predict that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Monday, March 10th. Eaton’s payout ratio is 43.79%.

Wall Street Analyst Weigh In

ETN has been the topic of several research reports. Barclays decreased their price objective on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup cut their price target 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. Evercore ISI dropped their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada decreased their price target 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. Finally, Wells Fargo & Company dropped their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and a consensus target price of $357.16.

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.