Whalerock Point Partners LLC Acquires 65 Shares of Eaton Co. plc (NYSE:ETN)

Whalerock Point Partners LLC raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,472 shares of the industrial products company’s stock after purchasing an additional 65 shares during the period. Whalerock Point Partners LLC’s holdings in Eaton were worth $489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ETN. Flagship Wealth Advisors LLC purchased a new stake in Eaton in the fourth quarter worth $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton in the 4th quarter worth about $30,000. Horizon Bancorp Inc. IN boosted 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 valued at $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton during the third quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Eaton in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.7 %

Shares of ETN stock opened at $288.91 on Friday. The stock has a market capitalization of $113.19 billion, a P/E ratio of 30.41, a P/E/G ratio of 2.64 and a beta of 1.09. 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’s 50 day moving average is $281.54 and its 200 day moving average is $323.21. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 last year, the company earned $2.55 earnings per share. Research analysts expect that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a yield of 1.44%. Eaton’s dividend payout ratio is currently 43.79%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research analyst reports. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a report on Tuesday, January 28th. Evercore ISI decreased their price objective on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. KeyCorp dropped their target price on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their price target on shares of Eaton from $396.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Jefferies Financial Group decreased their target price on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $350.22.

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.