SRS Capital Advisors Inc. Acquires 73 Shares of Eaton Co. plc (NYSE:ETN)

SRS Capital Advisors Inc. increased its holdings in Eaton Co. plc (NYSE:ETN) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,563 shares of the industrial products company’s stock after buying an additional 73 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Eaton were worth $519,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ETN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after purchasing an additional 730,594 shares during the last quarter. Janus Henderson Group PLC boosted its position in Eaton by 32.8% in the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Eaton in the third quarter worth about $137,794,000. Finally, Assenagon Asset Management S.A. boosted its position in Eaton by 3,508.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock worth $133,321,000 after purchasing an additional 390,595 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company reissued an “equal weight” rating on shares of Eaton in a research report on Thursday, February 13th. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Evercore ISI lowered their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Eaton in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $364.65.

Eaton Stock Down 5.3 %

Shares of ETN opened at $277.71 on Tuesday. The business’s 50 day moving average is $325.70 and its 200 day moving average is $332.62. The company has a market capitalization of $109.75 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99. 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 (NYSE:ETN) last released 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 business posted $2.55 EPS. Research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is presently 43.79%.

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.