World Investment Advisors Buys 1,486 Shares of Eaton Co. plc (NYSE:ETN)

World Investment Advisors grew its position in shares of Eaton Co. plc (NYSE:ETN) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,789 shares of the industrial products company’s stock after acquiring an additional 1,486 shares during the quarter. World Investment Advisors’ holdings in Eaton were worth $17,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Nicolet Advisory Services LLC boosted its stake in shares of Eaton by 12.7% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,798 shares of the industrial products company’s stock worth $3,687,000 after buying an additional 1,217 shares during the last quarter. OneAscent Financial Services LLC lifted its holdings in Eaton by 3.5% during the fourth quarter. OneAscent Financial Services LLC now owns 3,027 shares of the industrial products company’s stock worth $1,005,000 after acquiring an additional 102 shares during the period. Huntington National Bank boosted its position in Eaton by 2.4% in the fourth quarter. Huntington National Bank now owns 66,119 shares of the industrial products company’s stock worth $21,943,000 after purchasing an additional 1,538 shares during the last quarter. RFG Bristol Wealth Advisors LLC bought a new position in Eaton in the 4th quarter valued at $4,664,000. Finally, Meeder Advisory Services Inc. increased its position in shares of Eaton by 1.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 13,734 shares of the industrial products company’s stock valued at $4,558,000 after purchasing an additional 261 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays reduced their price target 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, March 26th. Royal Bank of Canada reduced their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. Finally, Evercore ISI lowered their target price on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. 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 has an average rating of “Moderate Buy” and a consensus target price of $357.16.

Eaton Stock Performance

Eaton stock opened at $284.40 on Thursday. The firm’s 50 day simple moving average is $301.05 and its 200 day simple moving average is $330.91. 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 1-year low of $255.65 and a 1-year high of $379.99. The firm has a market capitalization of $111.42 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last issued its quarterly earnings data 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 return on equity of 22.62% and a net margin of 15.25%. During the same period in the prior year, the firm earned $2.55 EPS. As a group, analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. Eaton’s dividend payout ratio 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.