OneAscent Financial Services LLC Purchases 102 Shares of Eaton Co. plc (NYSE:ETN)

OneAscent Financial Services LLC raised its position in Eaton Co. plc (NYSE:ETN) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,027 shares of the industrial products company’s stock after purchasing an additional 102 shares during the quarter. OneAscent Financial Services LLC’s holdings in Eaton were worth $1,005,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter worth about $30,000. Groupama Asset Managment increased its position in shares of Eaton by 83.2% during the third 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 period. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new stake in shares of Eaton in the third quarter valued at approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

ETN opened at $284.40 on Thursday. The company has a market cap of $111.42 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $301.05 and its 200-day moving average price is $330.91. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results 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 last year, the business posted $2.55 EPS. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ETN shares. Wells Fargo & Company decreased their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. 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. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a report on Wednesday, March 12th. Evercore ISI dropped their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $357.16.

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.