Umpqua Bank Boosts Stock Position in Eaton Co. plc (NYSE:ETN)

Umpqua Bank grew its position in shares of Eaton Co. plc (NYSE:ETN) by 2.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,191 shares of the industrial products company’s stock after purchasing an additional 48 shares during the quarter. Umpqua Bank’s holdings in Eaton were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ETN. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new position in Eaton in the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN increased its stake in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc bought a new position in Eaton in the 3rd quarter worth about $33,000. Finally, Activest Wealth Management increased its stake in Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company decreased their price target on Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Melius Research reiterated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $357.68.

Eaton Stock Performance

Shares of ETN stock opened at $295.88 on Friday. The firm has a market capitalization of $115.92 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business has a fifty day moving average of $311.30 and a 200 day moving average of $331.08. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99.

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

Eaton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.41%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Monday, March 10th. Eaton’s payout ratio is presently 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.