Kestra Advisory Services LLC Has $42.98 Million Holdings in Eaton Co. plc (NYSE:ETN)

Kestra Advisory Services LLC grew its stake in shares of Eaton Co. plc (NYSE:ETN) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,520 shares of the industrial products company’s stock after acquiring an additional 7,103 shares during the period. Kestra Advisory Services LLC’s holdings in Eaton were worth $42,984,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Wellington Shields & Co. LLC lifted its position in Eaton by 17.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 3,997 shares of the industrial products company’s stock worth $1,327,000 after acquiring an additional 581 shares during the last quarter. Midwest Professional Planners LTD. increased its holdings in shares of Eaton by 2.4% during the fourth quarter. Midwest Professional Planners LTD. now owns 16,860 shares of the industrial products company’s stock worth $5,595,000 after purchasing an additional 396 shares during the period. Wellington Shields Capital Management LLC increased its holdings in shares of Eaton by 31.6% during the fourth quarter. Wellington Shields Capital Management LLC now owns 8,474 shares of the industrial products company’s stock worth $2,812,000 after purchasing an additional 2,036 shares during the period. Renasant Bank increased its holdings in shares of Eaton by 2.1% during the fourth quarter. Renasant Bank now owns 3,676 shares of the industrial products company’s stock worth $1,220,000 after purchasing an additional 76 shares during the period. Finally, Atala Financial Inc bought a new position in shares of Eaton during the fourth quarter worth approximately $44,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of Eaton stock opened at $294.53 on Friday. 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 Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The stock has a market cap of $115.45 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 2.64 and a beta of 1.09. The company’s fifty day moving average is $316.31 and its 200 day moving average is $331.29.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $2.55 EPS. Sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The company 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 a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is 43.79%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Melius Research reaffirmed a “hold” rating and set a $373.00 target price on shares of Eaton in a report on Tuesday, January 28th. Wells Fargo & Company lowered their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Citigroup lowered their price objective on shares of Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.20.

About Eaton

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.