Benjamin Edwards Inc. Acquires 1,560 Shares of Eaton Corporation, PLC (NYSE:ETN)

Benjamin Edwards Inc. lifted its holdings in Eaton Corporation, PLC (NYSE:ETN) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,173 shares of the industrial products company’s stock after acquiring an additional 1,560 shares during the period. Benjamin Edwards Inc.’s holdings in Eaton were worth $4,125,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in Eaton in the fourth quarter worth about $26,000. IMA Advisory Services Inc. purchased a new position in shares of Eaton during the first quarter worth approximately $25,000. Vermillion Wealth Management Inc. purchased a new position in shares of Eaton during the fourth quarter worth approximately $33,000. Creative Financial Designs Inc. ADV increased its position in shares of Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 51 shares during the period. Finally, Abound Wealth Management increased its position in shares of Eaton by 73.8% during the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 62 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.8%

NYSE:ETN opened at $363.07 on Monday. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $399.56. The firm has a fifty day simple moving average of $354.99 and a 200-day simple moving average of $317.65. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $141.34 billion, a P/E ratio of 36.53, a PEG ratio of 2.68 and a beta of 1.18.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the firm posted $2.73 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 7th. Eaton’s payout ratio is presently 41.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ETN shares. Royal Bank Of Canada raised their target price on shares of Eaton from $336.00 to $356.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. KeyCorp lifted their price objective on shares of Eaton from $355.00 to $410.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Wall Street Zen lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Raymond James Financial lifted their price objective on shares of Eaton from $380.00 to $415.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Citigroup lifted their price objective on shares of Eaton from $420.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $383.63.

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.