Capital Advantage Inc. Takes Position in Eaton Co. plc (NYSE:ETN)

Capital Advantage Inc. bought a new position in shares of Eaton Co. plc (NYSE:ETN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,303 shares of the industrial products company’s stock, valued at approximately $1,096,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Flagship Wealth Advisors LLC purchased a new stake in Eaton during the 4th quarter valued at about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the fourth quarter worth $30,000. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the fourth quarter valued at $33,000. Finally, Activest Wealth Management boosted its holdings in Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 87 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE ETN opened at $299.07 on Tuesday. The stock has a fifty day simple moving average of $281.24 and a 200-day simple moving average of $321.09. 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 stock has a market cap of $117.17 billion, a PE ratio of 31.48, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a twelve month low of $231.85 and a twelve month high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm posted $2.40 earnings per share. Eaton’s revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.39%. Eaton’s payout ratio is presently 41.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ETN. Barclays decreased their price objective on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a report on Friday, April 4th. Royal Bank of Canada boosted their target price on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday. KeyCorp lifted their price target on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup boosted their price objective on Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.31.

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.