Alerus Financial NA Acquires 196 Shares of Eaton Co. plc (NYSE:ETN)

Alerus Financial NA raised its stake in Eaton Co. plc (NYSE:ETN) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,266 shares of the industrial products company’s stock after buying an additional 196 shares during the period. Eaton accounts for 1.4% of Alerus Financial NA’s holdings, making the stock its 15th largest holding. Alerus Financial NA’s holdings in Eaton were worth $18,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ETN. B. Riley Wealth Advisors Inc. grew its position in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after purchasing an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. bought a new position in Eaton during the fourth quarter valued at approximately $297,000. Webster Bank N. A. increased its position in shares of Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after acquiring an additional 6,166 shares during the period. Ballentine Partners LLC grew its stake in Eaton by 9.3% in the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Eaton by 13.2% in the fourth quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after acquiring an additional 1,694 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETN. Melius Research restated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research report on Tuesday, January 28th. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a report on Wednesday, March 12th. Barclays decreased their price objective on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and a consensus price target of $357.16.

Eaton Stock Performance

Shares of ETN opened at $281.04 on Friday. The business’s 50 day moving average price is $307.35 and its 200-day moving average price is $331.22. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The stock has a market cap of $110.10 billion, a P/E ratio of 29.58, a P/E/G 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.

Eaton (NYSE:ETN) last announced its earnings results 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 quarter last year, the firm earned $2.55 earnings per share. Equities research analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.48%. Eaton’s dividend payout ratio (DPR) 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.