Diversified Enterprises LLC Purchases 223 Shares of Eaton Co. plc (NYSE:ETN)

Diversified Enterprises LLC boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 25.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,091 shares of the industrial products company’s stock after purchasing an additional 223 shares during the period. Diversified Enterprises LLC’s holdings in Eaton were worth $362,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted 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 buying an additional 13,497 shares during the period. Lighthouse Wealth Management Inc. purchased a new stake in Eaton in the 4th quarter valued at about $297,000. Webster Bank N. A. boosted its position in Eaton by 52.4% in the 4th quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock valued at $5,949,000 after buying an additional 6,166 shares during the period. Ballentine Partners LLC boosted its position in Eaton by 9.3% in the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after buying an additional 790 shares during the period. Finally, Blue Trust Inc. boosted its position in Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock valued at $4,804,000 after buying an additional 1,694 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 3.8 %

Shares of ETN stock opened at $294.53 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. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock has a 50 day moving average of $316.31 and a 200 day moving average of $331.54. The stock has a market cap of $115.45 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09.

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 net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the firm earned $2.55 EPS. As a group, sell-side analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is currently 43.79%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ETN. Jefferies Financial Group cut their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday. KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday. Evercore ISI dropped their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Melius Research reissued a “hold” rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. Finally, Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.68.

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.