Titleist Asset Management LLC Acquires 766 Shares of Eaton Co. plc (NYSE:ETN)

Titleist Asset Management LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 49.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,302 shares of the industrial products company’s stock after acquiring an additional 766 shares during the period. Titleist Asset Management LLC’s holdings in Eaton were worth $764,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ETN. 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 shares of Eaton in the fourth quarter valued at approximately $297,000. Webster Bank N. A. grew its stake in Eaton by 52.4% in the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company’s stock worth $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Ballentine Partners LLC raised its position in Eaton by 9.3% during the 4th quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock valued at $3,072,000 after purchasing an additional 790 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Eaton by 13.2% in the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company’s stock worth $4,804,000 after buying an additional 1,694 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 5.6 %

NYSE ETN opened at $246.36 on Monday. The stock has a market cap of $96.52 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09. 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 12-month low of $222.60 and a 12-month high of $379.99. The company has a fifty day simple moving average of $296.43 and a two-hundred day simple moving average of $330.24.

Eaton (NYSE:ETN) last issued its 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 return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the business posted $2.55 earnings per share. On average, analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.69%. The ex-dividend date was Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Analyst Ratings Changes

ETN has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Barclays dropped their price objective on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Friday. Evercore ISI reduced their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Citigroup dropped their target price on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company reduced their price target 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. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $356.68.

Eaton Company 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.