322 Shares in Eaton Co. plc (NYSE:ETN) Acquired by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 322 shares of the industrial products company’s stock, valued at approximately $107,000.

Other large investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in shares of Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton during the 4th quarter worth approximately $30,000. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% during 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 in the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of Eaton during the 3rd quarter worth approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN opened at $295.88 on Friday. The company’s fifty day moving average price is $311.30 and its 200 day moving average price is $331.08. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The company has a market capitalization of $115.92 billion, a PE 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 quick ratio of 0.96 and a current ratio of 1.50.

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. On average, research analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The business also recently disclosed 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 is Monday, March 10th. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.41%. Eaton’s dividend payout ratio is currently 43.79%.

Analysts Set New Price Targets

Several research firms have weighed in on ETN. Melius downgraded shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Royal Bank of Canada dropped their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. StockNews.com downgraded shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Citigroup dropped their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $357.68.

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.