MSH Capital Advisors LLC Purchases Shares of 1,931 Eaton Co. plc (NYSE:ETN)

MSH Capital Advisors LLC acquired a new position in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,931 shares of the industrial products company’s stock, valued at approximately $641,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Vanguard Group Inc. raised its holdings in Eaton by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company’s stock valued at $12,351,506,000 after acquiring an additional 99,291 shares during the last quarter. FMR LLC increased its stake in Eaton by 1.2% in the fourth quarter. FMR LLC now owns 15,222,248 shares of the industrial products company’s stock valued at $5,051,807,000 after purchasing an additional 182,455 shares during the last quarter. Geode Capital Management LLC lifted its position in Eaton by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company’s stock worth $2,714,677,000 after buying an additional 129,071 shares during the period. Norges Bank acquired a new stake in Eaton in the 4th quarter worth about $1,495,582,000. Finally, Franklin Resources Inc. increased its stake in shares of Eaton by 13.3% during the 4th quarter. Franklin Resources Inc. now owns 2,744,691 shares of the industrial products company’s stock valued at $910,881,000 after acquiring an additional 323,065 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE:ETN opened at $269.42 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 market cap of $105.55 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a 50-day moving average of $286.96 and a 200-day moving average of $326.08.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 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 period last year, the business posted $2.55 earnings per share. Analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $1.04 per share. This is a boost from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Monday, March 10th. Eaton’s payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ETN. Barclays reduced their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Friday, April 4th. JPMorgan Chase & Co. dropped their price objective on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reduced 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. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Finally, Citigroup reduced their price objective on Eaton from $396.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus target price of $350.22.

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.