Eaton Co. plc (NYSE:ETN) Shares Bought by OneAscent Financial Services LLC

OneAscent Financial Services LLC boosted its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,027 shares of the industrial products company’s stock after purchasing an additional 102 shares during the quarter. OneAscent Financial Services LLC’s holdings in Eaton were worth $1,005,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Wetzel Investment Advisors Inc. grew its stake in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after buying an additional 28 shares in the last quarter. Westmount Partners LLC boosted its holdings in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 30 shares during the period. Signal Advisors Wealth LLC grew its position in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 30 shares in the last quarter. Lantz Financial LLC increased its stake in Eaton by 4.8% during the fourth quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 30 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Eaton by 2.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,639 shares of the industrial products company’s stock worth $544,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 2.8 %

Shares of NYSE:ETN opened at $284.40 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $301.05 and a 200-day simple moving average of $330.91. The company has a market capitalization of $111.42 billion, a PE ratio of 29.94, a P/E/G ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the firm earned $2.55 earnings per share. On average, equities analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. 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 (DPR) is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Melius Research reaffirmed a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. KeyCorp upgraded Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target on the stock in a report on Wednesday, March 12th. Finally, Jefferies Financial Group decreased their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $357.16.

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.