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

Whalerock Point Partners LLC increased its position in shares of Eaton Co. plc (NYSE:ETN) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Other large investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new stake in Eaton during the fourth quarter valued at about $27,000. Noble Wealth Management PBC purchased a new stake in shares of Eaton during the fourth quarter worth about $30,000. Horizon Bancorp Inc. IN raised its stake in 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 during the period. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter worth approximately $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Eaton in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the topic of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays dropped their price objective on shares of Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Jefferies Financial Group decreased their target price on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a report on Tuesday, January 28th. Finally, StockNews.com cut Eaton from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.22.

Eaton Stock Performance

Eaton stock opened at $288.91 on Friday. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market capitalization of $113.19 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company’s 50-day moving average is $281.54 and its 200 day moving average is $323.21.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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 quarter last year, the business posted $2.55 earnings per share. Research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Announces Dividend

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

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.